Logistics Behind Sotheby’s Metaverse
Sotheby’s new hub for NFT collectibles includes an integrated sales system that’s completely on-chain. Utilizing Ethereum and Polygon Networks, users can pay for iconic digital works of art in either ETH or MATIC.
Further representing a commitment to honoring artists’ royalties, the Metaverse will utilize smart contracts on its NFT marketplace that will ensure artists receive automatic payments based on the royalty rate they pick — overriding a significant industry issue.
What’s more, the secondary marketplace will showcase a rotating selection of artists, presenting new and upcoming artists every few months. Some of the world’s most famous NFT artists — Tyler Hobbs, Claire Silver, XCOPY, Diana Sinclair, Pindar van Arman, and more — will be at the forefront of the platform’s initial debut.
By cherry-picking a group of pioneering NFT artists who have already drawn global attention to digital art, Sotheby’s demonstrates a solid commitment to the Web3 world, creating a space for collectors with refined tastes.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.