A new frontier for art sales?

A person looks at a piece by Douglas Hoekzema, also known as Hoxxoh, during a press preview in March of the opening of Superchief Gallery NFT, a physical gallery dedicated to NFT (nonfungible token) artwork in New York City. Sotheby’s and Phillips launched so-called NFT auctions on 12 April, a month after Christie’s sold a digital artwork for $69.3 million, as traditional auction houses seek to capitalise on the craze shaking up the art market. Several months ago, barely anyone had heard of an NFT, a digital object such as a drawing, animation, piece of music, photo, or video with a certificate of authenticity, created by blockchain technology.