One the world's largest art brokers, Sotheby's, has announced the launch of its secondary NFT marketplace, Sotheby's Metaverse. This marketplace, which will be built on the Ethereum and Polygon blockchain, will feature a rotating and curated selection of leading artists that have been hand-picked by Sotheby's specialists, who will provide expert guidance and context for each work. This easy-to-navigate experience allows users to discover various thematic presentations and artist spotlights. Additionally, the marketplace honors artist royalties directly through on-chain smart contracts, and will have a 2.5% percent seller fee.

The announcement of Sotheby's Metaverse is part of the company's commitment to digital collectibles. For centuries, Sotheby's has had an influence in the art world, so their involvement in non-fungible tokens confirm that they are true cultural artifacts.

The NFTs have also been making their way into major museums. Refik Anadol, one of the 13 creators whose work is featured in the marketplace, had his “Unsupervised” collection exhibited in the famous Museum of Modern Art (MoMA) in New York. Additionally, there have been various projects and initiatives to help preserve NFTs as notable cultural artifacts. For example, the "Punks Legacy Project" by Yuga and Larva Labs and a donation to the Los Angeles County Museum of Art (LACMA) by influencer Cozomo de Medici have been pleasing efforts.

All in all, Sotheby's Metaverse is a significant step towards legitimizing NFTs as noteworthy cultural artifacts. With the help of the world's greatest art brokers, these tokens are likely to continue making their way into one of the most important museums around the world and further demonstrate their capacity to become legitimate collectibles.



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