• Sotheby’s first metaverse auction attracts 1,500 bids and breaks NFT records

  • After nine days of live bidding, Sotheby’s concluded its Natively Digital 1.2 auction event on Tuesday with 1,500 bids and a total turnover of US$18.6 million. According to a press release shared with ULTCOIN365, three non-fungible tokens (NFTs) reached record bids, including #8817 Ape by Bored Ape Yacht Club, Rare Pepe PEPENOPOULOS, and Self Portrait #1 by Dmitri Cherniak.

    The #8817 Ape by Bored Ape Yacht Club sold for $3.4 million at the auction, the highest price ever paid for a single Bored Ape. In addition, the Rare Pepe portrait of Bitcoin creator Satoshi Nakamoto sold for $3.6 million, setting a new record; and the Self Portrait #1 by Dmitri Cherniak sold for $2.6 million, the highest bid since it was minted.The first auction held in the metaverse was Natively Digital 1.2. The bidding began on October 18 and ended on October 26. It is the second NFT auction in this series, and Sotheby’s says it will be the company’s flagship biannual NFT auction.The NFT’s scarcity may be the primary reason for its ever-increasing price. Rarity Tools lists BAYC #8817, a golden-haired ape, as the 17th rarity in the series. Sotheby’s estimates that the golden-haired ape accounts for less than 1% of the entire series.According to Max Moore, co-head of Digital Art Sales at Sotheby’s, the Satoshi Nakamoto Pepe is one of only seven unique rare works in existence out of hundreds of pepes. Moore described Dmitri’s Portrait #1 as “the beginning of the genesis of his artwork that went to a collector who really appreciates not only the artist, but the importance and significance of how it exists within his entire body of work to date and how it will exist moving forward.”

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