News/Sotheby Sold 500 Pieces of Generative Art in less than an hour for $1.2 million

Sotheby Sold 500 Pieces of Generative Art in less than an hour for $1.2 million

Jul 27,2023,11:00

Sotheby, one of the world's largest brokers of fine and decorative art, jewellery, and collectibles, announced it sold 500 pieces of generative art in less than an hour for $1.2 million.

Created by the artist Vera Molnár and christened Themes and Variations, each piece of digital art was "minted immediately upon purchase," Sotheby's said in a statement, adding that trading volume on the secondary market had totaled 400 ether (about $754,000) in the hours following the auction.

Sotheby's announced the launch of its generative art program last month. Despite a downturn in NFT sales, the auction house has recently been reasonably successful when auctioning off digital works, including a collection that once belonged to the failed hedge fund Three Arrows Capital.

 

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