![]() It comes as the floor price for NFTs have seen a decline, with NFT market volumes at their lowest in 20 months. Read more: Bored Ape Bar: Inside the $100,000 membership exclusive NFT club in Londonĭigital art collector Cozomo de' Medici is set to collaborate with Sotheby's on the curation of one of the online gallery rooms. Sotheby's also plans to unveil a new digital art gallery on the web3 art gallery platform Oncyber in June, showcasing selected works from the secondary NFT market. "Sotheby’s commitment to honouring artist royalties comes amidst a larger debate about royalties within the NFT community, and signals Sotheby’s artist-first ethos as one of the only major NFT marketplaces committed to artist resale royalties," the platform said. The platform will automatically compensate artists based on their chosen on-chain royalty rate. Sotheby's Metaverse said it will uphold artist royalties via smart contracts. ![]()
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