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Auction house Sotheby’s is spreading the word on NFTs in Saudi Arabia

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Dubai: Sotheby’s doing its bit for NFTs? You read that right.

Why would one of the world’s most venerated names in auctioning fine art and antiques want to be in the new-fangled world of digital art with its non-fungible tokens (or NFTs)? Shouldn’t they be in two parallel art universes?

Last week, Sotheby’s confirmed its association with Saudi Arabia’s Visual Arts Commission of the Ministry of Culture in Riyadh for a digital arts forum, which starts today (February 25). This is where it gets particularly interesting – the forum will be accompanied by the Kingdom’s first showcasing of NFTs.

“We’re constantly adding new – often unexpected – categories to the now huge array of things that we offer,” said Fahey.

Sotheby’s Sebastian Fahey, who is the Managing Director for the EMEA territory, gives his take on why Sotheby’s and NFTs are such a good fit after all.

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