Sotheby’s auction house is getting into the NFT game

The creation and sale of nonfungible tokens, or NFTs, has become a revolution that is increasingly difficult to ignore. On March 16, British-American auction house Sotheby's announced that they too would be entering this burgeoning ecosystem with the sale of tokenized art by a creator known only as “Pak.”

“We’ve been following the NFT 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,” Charles Stewart, the CEO of Sotheby’s, said on Tuesday during an interview with CNBC.