NEW YORK: Sotheby’s hosted its first sale of art supported by nonfungible tokens (NFTs), the trendy authentication technology, by artist Pak, with the works bringing in $16.8 million, the auction house said on Wednesday (Thursday in Manila).

The Sotheby’s foray into NFT selling comes just a little more than one month after the sale of the NFT of the work “Everydays: The First 5,000 Days” by digital artist Beeple for $69.3 million at rival Christie’s.

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