Nifty Gateway, a leading marketplace for nonfungible tokens with the backing of the Winklevoss brothers, recorded its largest-valued auction to-date on July 23 when the digital artwork and NFT “Picasso’s Bull” sold for $55,555.55.
The milestone comes as benefits of fractionalized ownership, decentralized provenance verification and the global liquidity pool enabled by blockchain technology are enticing both art creators and investors to explore NFTs.