Sotheby's will launch the Gen Art program, accepting only ETH as payment for the first auction.

Odaily News: Sotheby's is launching a program called Gen Art, aimed at generative artists. Each year, the program will showcase the works of two to three generative artists using the Art Blocks Engine to create assets on a fully on-chain auction platform.



The auction house will hold the inaugural auction for this project on July 26th, featuring 500 works by generative artist Vera Molnár. The auction will be conducted entirely on-chain through Sotheby's Metaverse, an NFT platform curated by the auction house. Only ETH payments will be accepted. Molnár, who is 99 years old, has been experimenting with algorithms and generative work since the 1960s. (The Block)