Sotheby’s Latest Metaverse Auction Returns Over $745,000 in NFT Sales
Sotheby’sone of the world’s leading auction houses, held its fourth metaverse auction from March 30, 2022 to April 4, 2022, featuring 24 NFTs from the “LFC Heroes Club” series launched by liverpool
The “Legendary” 1/1 auction and the limited edition “Hero” sale included 24 unique “Legendary” 1-on-1 NFTs and a series of generative “Hero Edition” NFTs.
All 24 lots of the “legendary” NFTs sold at the auction, with final prices for each piece ranging from $10,710 to $88,200. Total sales for this latest auction were $745,290. The biggest sellers were Mohamed Salah’s NFT at $88,200, Jurgen Klopp’s at $81,900 and Trent Alexander-Arnold’s at $69,300.
The sale also included a series of “Hero Edition” generative NFTs priced at $75 each, with 9,721 of the potential 171,072 sold.
See also: NFT Release Schedule
NFT owners have access to an LFC Community Forum, unique experiences, virtual hangouts, contests, guest appearances, LFC Foundation updates and retail discounts LFC.
NFTs and the Growing Global Art Market
Digital art NFTs have had a significant impact on the global art market. Major auction houses, including Sotheby’s, Christie’s and Phillips, all introduced NFTs to their auctions in 2021, with total auction revenue for the year reaching $232.43 million.
Although only a small fraction of total auction revenue of $17.1 billion in 2021, NFTs are attracting a new pool of buyers to the art market. The pandemic has also forced major auction houses to accelerate their digital transformation, bringing many once-exclusive art auctions together on an online platform and further expanding the pool of buyers.
The expanding market has made 2021 a record year in terms of total fine art auction turnover and total number of lots sold. The Mei Moses All Art Index, which tracks resales of artworks at auction, recorded a 17% increase, its biggest rise since the financial recovery in 2010.
Related: Art Values Could Skyrocket If Iconic Marilyn Monroe Painting Hits $200 Million At Auction – Why Investors Should Take Note
The ability to invest in fractional assets has also made waves in the art market, with online platforms allowing individuals to buy shares of iconic paintings by artists like Pablo Picasso, Andy Warhol, Banksy and others.
See also: Benzinga’s best art offerings
Photo: Courtesy of Liverpool FC
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