The future of ownership or a passing fad?
NFTs, or non-fungible tokens, a digital object underpinned by the blockchain, have taken the digital art world by storm — and Sotheby's is taking note.
The storied auction house credited an “influx of younger, tech-savvy collectors” interested in luxury goods and NFTs for its success in 2021, when it reported its highest sales figure since it opened in 1744.
But the digital space is not without its grifters, spammers and scammers.
OpenSea, the world's biggest NFT marketplace by volume, said last month that 80 per cent of the NFTs minted on its platform are “plagiarised works, fake collections and spam".
To better understand the world of NFTs and art — and what still needs to be done to make the market less fraudulent — host Kelsey Warner is joined this week by Michael Bouhanna, the co-head of digital art sales at Sotheby's.
From February 25-27, Sotheby’s and the Visual Arts Commission of Saudi Arabia’s Ministry of Culture are teaming up to launch a digital arts forum in the kingdom — a first of its kind in the Middle East.
The forum will chart the history of NFTs, from their inception seven years ago until today and bring together artists, collectors and curators in digital art. Sotheby’s will also showcase a selection of cutting-edge NFTs and host daily workshops as part of the Diriyah Biennale’s public programme.
In this episode
What are NFTs again? (0m 50s)
The digital art scene, NFTs and why Sotheby's wants to get involved (2m 24s)
Collector trends and tastes in the NFT space (7m 30s)
Security and investment in the NFT world (9m 19s)
Read more
Celebrities and NFTs: what your favourite stars are trying to sell you
John Lennon’s son Julian to sell his father’s Beatles clothes as NFTs
Biggest auction sales of 2021: from Beeple's NFT record to the Macklowe Collection
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday, February 8 v Kenya; Friday, February 9 v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
UAE currency: the story behind the money in your pockets
Places to go for free coffee
- Cherish Cafe Dubai, Dubai Investment Park, are giving away free coffees all day.
- La Terrace, Four Points by Sheraton Bur Dubai, are serving their first 50 guests one coffee and four bite-sized cakes
- Wild & The Moon will be giving away a free espresso with every purchase on International Coffee Day
- Orange Wheels welcome parents are to sit, relax and enjoy goodies at ‘Café O’ along with a free coffee
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Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
