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Today through Thursday, the anonymous digital artist Pak is presenting "The Fungible." Released in collaboration with Sotheby’s, and available exclusively on Nifty Gateway, the collection represents the artist and the organization's shared interest in technological experimentation through fine digital art. It marks the first NFT auction for the New York-based art corporation.
"The Fungible" leverages blockchain technology and NFTs by assuring collectors of ownership and exposing them to the features that technology can provide artwork. Through Pak's collection, the artist questions our understanding of value, seen in works in the capsule collection-like collection "Open Editions."
This allows collectors to purchase as many fungible cubes throughout the two-day sale for a fixed price. Throughout the sale, the collection will present a new idea of value in relation to art, with specific works offered in various purchasing formats. One-of-one works like The Switch and The Pixel will be offered in the traditional auction format, while the Single Cube will be offered as an open edition.
"The Fungible" elaborates on Pak's work at the forefront of digital art and the crypto world—an interest of his as an anonymous creator that eclipses two decades. By embracing technology to create boundryless works, Pak remains the founder and lead designer of the studio Undream and creator of Archillect—an AI platform built that discovers and shares visual media.