Auction house Sotheby’s isn’t just selling NFTs, it’s diving right into the metaverse. A digital replica of its London gallery has launched in Decentraland, in the Voltaire Art District. The digital building recreates many of the same features as the real-life version. It can be found using map coordinates 52,83.
The virtual version also includes an avatar of Sotheby’s London Commissionaire Hans Lomulder. He greets visitors as they arrive.
A Sotheby’s for the NFT world
The metaverse version of Sotheby’s imitates many of the New Bond Street Galleries’ features. There are five ground-floor gallery spaces dedicated to showing works. For example, Sotheby’s recent NFT sales. The goal, according to Sotheby’s, is to make art available to artists and collectors, and also the general public.
In traditional auction galleries, access is limited and carefully managed, to prevent theft or damage. In a virtual gallery, the only danger is that too many people might see a work they won’t be able to afford at auction. By creating a copy of its home base, Sotheby’s is reaching a wider audience than ever before.
Auction houses investing heavily in NFTs
This is just the latest example of auction houses like Sotheby’s and Christie’s throwing their hat in the crypto ring. But instead of simply launching another auction for classic digital works, Sotheby’s is going all-in. This move shows that even a 277-year-old institution isn’t just dabbling in a craze. They’re also investing in the future.
The Sotheby’s virtual gallery can be accessed by visiting Decentraland. Their “Natively Digital” show continues until June 10.