By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Sotheby’s Makes First Crypto Investment, Backing NFT Startup Using Ethereum Blockchain
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > News > CRYPTOPEDIA > BLOCKCHAIN NEWS > Sotheby’s Makes First Crypto Investment, Backing NFT Startup Using Ethereum Blockchain
BLOCKCHAIN NEWSNews

Sotheby’s Makes First Crypto Investment, Backing NFT Startup Using Ethereum Blockchain

NFT Studio 24
Posted NFT Studio 24 October 22, 2021 550 Views 3 Min Read
Updated 2022/02/08 at 5:00 PM
Ethereum Blockchain
SHARE

Sotheby’s, the world’s largest art and luxury auction house, is betting on the digital art world by joining a $20 million seed round investment in Delaware-based NFT studio Mojito, joining the likes of Future Perfect Ventures, Creative Artists Agency and NEA’s Connect Ventures. 

The investment values the firm at $100 million, according to a statement, and Future Perfect partner Jalak Jobanputra will take a seat on the company’s board. Mojito plans to use the new capital to develop its engineering teams in order to continue building the Mojito platform, and to create more partnerships to launch brand-specific non-fungible token (NFT) marketplaces that work differently from today’s standard of Amazon and eBay-type platforms.

Sotheby’s joins the increasing number of traditional art dealers and collectors adopting NFTs as part of their repertoire, as digital art keeps gaining momentum. But Sotheby’s is taking its relationship with digital art a step further by making its first investment in a crypto company, betting on the success and prevalence of NFTs and other crypto assets as serious marketable goods.

“We believe in the future of using blockchain to expand ownership of digital assets,” says Charles F. Stewart, Sotheby’s CEO. “There is a huge amount of focus and interest in NFTs. We hear about these categories from most of our existing clients and collectors, but we are also engaging with a rather large new audience who is very focused on this category. Sotheby’s mission is to promote access and ownership of exceptional art and luxury objects, so focusing and developing this area makes a lot of sense.”

Sotheby’s first NFT sale took place less than five months ago, and it stood as a one-off event. Now, with a new customized marketplace specifically designed to auction NFTs and an investment in the startup behind it all, the auction house seems to be all in. Last week, Sotheby’s launched its NFT marketplace, Sotheby’s Metaverse, along with a new curated sale, Natively Digital 1.2: The Collectors, that will be taking bids through October 26. A second iteration of Sotheby’s first NFT sale, Natively Digital, the auction features 53 pieces from the holdings of 19 notable collectors including NFT Girl, Steve Aoki, AOI and Paris Hilton. In addition to tracking the assets on the ethereum blockchain, the marketplace lets bidders pay in ether, bitcoin and USDC cryptocurrencies, as well as fiat currencies.

Read more:

https://www.forbes.com/

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Best Altcoins to Buy 7 of the Best Altcoins to Buy
Next Article GameStop is hiring a team of NFT and Web3 specialists Here’s how you can convert your digital art into an NFT and sell it

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

Azukis Twitter account hackers steal 750K in half an hour
Azuki’s Twitter account hackers steal $750K in half an hour
LATEST NFT NEWS & METAVERSE News January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWS News January 29, 2023
Blockchain Fest Singapore 2023 nftstudio24
FINEXPO Presents Blockchain Fest Singapore 2023
Blockchain Fest Singapore 2023 will be The Largest Event in Asia
EVENTS PRESS RELEASE January 28, 2023
Join us
Ad imageAd image

You Might also Like

Azukis Twitter account hackers steal 750K in half an hour
LATEST NFT NEWS & METAVERSENews

Azuki’s Twitter account hackers steal $750K in half an hour

January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWSNews

Michael Saylor says Bank of America has embraced Bitcoin

January 29, 2023
Bidstack signs a deal with SimWin Sports for virtual league
LATEST NFT NEWS & METAVERSENews

Bidstacks signs a deal with SimWin Sports for virtual league

January 28, 2023
Investor Josef Holm visits India with his Web3 Venture fund
India's Web3 & Metaverse NewsNewsWEB3

Investor Josef Holm visits India with his Web3 Venture fund

January 28, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?