Interest in non-fungible tokens is growing. At the same time, some record-breaking purchases surprise many. Recently an artwork from digital artist Pak, that represented just a separate gray pixel, was sold for $1.36 M on the platform of Nifty Gateway with Sotheby’s auction house management. Titled "The Fungible’ Collection", the purchase had a multiplex arrangement.
Behind the gray pixel, there are white and grey shades.
✨The final day of the Fungible Open Edition sale by @muratpak is about to start on @niftygateway✨— Sotheby's (@Sothebys) April 14, 2021
Cubes are available to purchase from 1-1:15PM ET. Don't miss out👉https://t.co/dxiO0vIA20#DigitalArt #NFTs pic.twitter.com/miw7tYMSzu
The pixel was a part of an entire collectible, the cost of which is $16.8 M. There are animated images that form the set.
The digital art selling process involved a range of cubes that collectors were able to trade for a fee of $500 to $1,500. In correspondence with the number of acquired cubes, the participants would receive NFTs.
There were also several tasks created for interested people such as posting hashtags. Completing them, the participators got four limited editions NFTs.
Coinbase CEO Brian Armstrong, who is going to present his NFTs in the form of electro music, compared the innovation of NFTs to the internet or fashion.