Sotheby’s to auction NFT jewellery Phygital Ring
Sotheby’s and head of ‘Art as Jewelry as Art’ Sale New York, Tiffany Dubin has partnered to host the first auction devoted to artist-made jewellery. As part of the upcoming sale, the celebrated auction house will sella ‘phygital ring’, which it defines as ‘being simultaneously physical and digital.’
The winning bidder of this one-of-a-kind 18k gold and emerald ring designed by Francine Ballard of Metagolden, will own a copy of the piece in both the physical world and the Metaverse.
The sale of the phygital ring is complimented by ‘Ethereum Expedition’ NFT ring. It is designed to resemble a miniature geodesic dome and patented by Buckminster Fuller and adopted in design by David Webb. Meanwhile, the piece is inspired by the intercontinental rocket launches - a futuristic technology that will be realized in up-and-coming space programs like Elon Musk’s SpaceX.
According to Metagolden, its items ‘digital twins’ can double the holder’s investments as digital twins can be a piece of digital art, or a wearable that can be worn in the Metaverse. The item would appreciate in value independently from the physical item.
Sotheby NY said the phygital ring speaks ‘directly to a nouveau assemblage of collectors’ who recognizes blockchain’s potential. Therefore, the ring symbolises the ‘illustrious futurists’ blueprint for transit.’
‘For under-30 consumers, digital assets have become as important as physical ones. Luxury is awakening to that fact now. And this is where our brand sits.’ said Ballard.
Also on offer at the Sotheby’s Art as Jewelry as Art auction are luxury jewellery by classic and contemporary artists and will run from 24 Sept to 4 Oct in New York City.
These items include pendants by Picasso, earrings by Dalí, and a piece by Man Ray and other pieces by contemporary artists Tom Otterness and Jean Boggio.