A Cube by Pak

“I remember that Sotheby’s announced the Pak sale in April 2021, shortly after Christie’s sale of Beeple’s work for $69 million in March 2021. As usual, it’s a ping pong game between the two leading auction houses. This time Sotheby’s took a risk and gamified the sale to innovate from the one bidder wins it all. The Fungible Sale was indeed made out of many different building blocks “the cubes”. And you could buy one, five, ten, which would give you access to different NFTs. There were additional, special cubes reserved to the community of artists, winners of advanced puzzles, etc. I purchased one cube to remember the excitement leading to the sale, attending all talks to understand the mechanisms, and be ready when the sale launched.“

What I love about this work

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ARTWORK DETAILS

Artist Name: PAK

Artwork Title: A Cube #2849/5148

Series Title: The Fungible Collection

Series Size: 5,148

Creation Date: April 16, 2021

Genre: Conceptual Art

Description: The Fungible collection by digital artist Pak is a pinnacle of creative technological experimentation through the lens of fine digital art. By leveraging blockchain technology and non-fungible tokens (NFTs), The Fungible not only provides collectors with novel assurances of scarcity and ownership, but exposes them to the unique features with which technology can endow artwork. Through this collection, Pak scrutinizes our understanding of value. What does value mean, and from where does it derive authority? Core to the collection is the Open Editions, which allow collectors to purchase as many fungible cubes as they wish during the sale period for a fixed price. As the collection reveals itself over the course of the sale, Pak continues to challenge the collector community with this question of value while simultaneously providing a unique journey into and through digital art. The Fungible started on April 12 and ended on April 14th. It was released in collaboration with Sotheby’s exclusively on Nifty Gateway, a marketplace specializing in the sale and auction of non-fungible tokens.

Platform: Nifty Gateway

Partner: Sotheby’s New York

Blockchain: Ethereum

Link to the NFT:  https://opensea.io/assets/ethereum/0xc0cf5b82ae2352303b2ea02c3be88e23f2594171/22700082849

Links:

1. Sotheby's page: https://www.sothebys.com/en/digital-catalogues/the-fungible-collection-by-pak

2. Nifty Gateway project page: https://www.niftygateway.com/collections/paksothebysauction 

3. Medium article explaining the concept: https://psyche-crypto.medium.com/pak-the-fungible-the-whitepaper-for-nft-digital-art-3a74eaa9b64

4. Outland article about Pak’s Politics: https://outland.art/pak-politics/

Video:

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