With the rapid development of blockchain, the collection and transaction of NFTs are becoming more popular. Seeing the potential of crypto art, a well-known auction group has launched an NFT online auction for the first time. Formosa News reporter Stephany Yang has the highlights.

A well-known art auction group has launched its first online NFT auction. The auction includes dozens of representative projects in the crypto art domain, including "Ether Rock,” “Bored Ape Yacht Club,” “Meebits,” and the artist Rich Lord’s “Geometry Runners.”

Pan
Ravenel Wine & Online auctions manager
We are glad to introduce these to our collectors the “Ether Rock #58”. It''s our highlight of our auction this time. It launched back in 2017. It kind of represents a milestone in the NFT history because it''s one of the first NFT collectibles on the ethereum blockchain. There''s only 100 rocks that can ever be available. Another highlight will be "Bored Ape Yacht Club." It''s a 10,000 collection of Bored Ape profile pictures.

Wine & Online Auctions manager Pan said that one advantage of NFT art is that the origin and ownership of NFTs can be proven.

Pan
Ravenel Wine & Online auctions manager
With the hot topic of blockchain, metaverse, and NFT this year, obviously NFT has become a new type of collectible. Alongside with the record-breaking auction results, we believe that NFTs are valuable in the art market for good reasons. One of them is that it certifies unique authentications for artworks at the time it has been created or remitted. By this means, we can solve the counterfeit problem that exited in the art industry. Another reason is that it provides immutable ownership of the artworks. We can trace all the way back to the origins. That makes the artwork valuable.

Seeing the potential of NFTs in the art market, the auction group hopes to introduce the new bidding platform to collectors.