August 24, 2022
By Murtuza Merchant
The first auction to feature a physical ring will be Sotheby’s NY “Art as Jewelry as Art” sale.
The purchaser of this gold-and-emerald ring, created by Francine Ballard of Metagolden exclusively for this future sale, will own it both in the real world and the metaverse.
The digital ring “Ethereum Expedition”
The tangible “Ethereum Expedition” ring is linked with the one-of-one NFT that was purchased during the auction.
The intercontinental rocket launches that may soon occur in our near future served as inspiration for the performance itself. In terms of design, David Webb adapted Buckminster Fuller’s patent for a small geodesic dome.
Metagolden claims that combining the digital and physical doubles the buyer’s investment.
This is due to the fact that assets will increase in value independently of one another on the ever-expanding NFT market as well as the gold market.
This piece speaks “directly to a nouveau assemblage of collectors,” according to Sotheby’s NY, which recognizes that the blockchain is bringing about a cultural revolution.
This ring represents the “illustrious futurists’ blueprint for transit,” so to speak.
2022’s online auction will run from 24 September through 4 October. During the same time frame, the pieces will also be on display at Sotheby’s NY New York Avenue Galleries.
The sale will include jewelry created by some of the greatest artists of the 20th century in addition to the physical ring.
About the Sotheby’s New York “Art As Jewelry As Art” Auction
The “Art As Jewelry As Art” sale at Sotheby’s in New York brings together a range of pieces created by renowned artists who have traveled the globe in miniature.
It offers 150 pieces of art that collectors can display as a part of a personal collection or wear as accessories.
The top modern artists are represented in the auction with some of their notable works.
These include Picasso’s pendants, Dali earrings, and a Man Ray choker brooch.
With pieces by artists like Tom Otterness, Jean Boggio, Suzanne Syz, and others, contemporary design is equally evident.
“Today, collecting art is often seen as an investment. The works assembled here are indeed wise investments since most are either unique pieces or from small editions. They are scarce and will only become more so,” said Sotheby’s NY Tiffany Dubin.
“This selection of artist jewelry is an opportunity to reintroduce these works to the discerning collector in a new context and as a defined category of art for a collection that happens not only to be intended for adornment but much more than that – as a means of personal expression.”
There is no doubt that the NFT jewelry market is expanding. Recently, Tiffany & Co.’s Cryptopunk NFT line sold out almost instantly and in just 20 minutes.
Additionally, IceCap was the first business to offer investment-class diamonds as NFTs last year.
These NFTs were also worn in conjunction with actual jewelry, such as diamond necklaces and rings.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.