Sotheby's will team up with the digital artist "Pak" for the sale of tokenized art, according to CoinTelegraph Wednesday.
Pak has been producing digital art for years but the artist's identity remains a mystery.
"We've been following the non-fungible token space for some time and we're excited this morning to be announcing an upcoming sale next month with an artist who is known as Pak," CNBC quoted Sotheby's chief executive officer Charles Stewart as saying.
British-American auction house Sotheby's was founded in 1744. It has decided to embrace non-fungible tokens.
Sotheby's competitor Christie's earlier this month sold a non-fungible token artwork from the artist known as Beeple for $69 million.
Separately, Patrick Mahomes, a 2020 NFL Super Bowl champion, has launched his own non-fungible token art gallery.
An non-fungible token is a unique digital file stored on a ledger, or blockchain. It is a cryptographic token that is distinct by design - a scarcity that proponents say supports their value.
According to Stewart, Pak prefers to remain unidentified because "he wants it to be about the art - which is not necessarily a new thing in the art world."
Some say Pak may not be an individual but a group. A September 2020 article from The Control said that Pak might even be an artificial intelligence program or bot.
"This is new for all of us, but there's a lot that's really exciting and we think has staying power," Stewart said.
