Sotheby’s, established in 1744 in London, is launching its second non-fungible token (NFT) auction.
- In an announcement Thursday, Sotheby’s said the curated auction from June 3-10 will feature “the first NFT ever minted” – Kevin McCoy’s “Quantum.”
- “Universally regarded as the first NFT ever created, Quantum is timestamped 05-03-2014 09:27:34,” Sotheby’s wrote in its announcement.
- Some regard the Bitcoin-based “Colored Coins” as the first NFT.
- The other two works in the Sotheby’s auction are a rare CryptoPunk from 2017 and Anna Ridler’s “The Shell Record” from 2021.
- Bidding will begin at $100 and a portion of the funds raised from the sale will go to the Sevens Foundation, a non-profit supporting digital artists.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.