Sotheby’s and the Visual Arts Commission of Saudi Arabia’s Ministry of Culture are partnering to launch a digital arts forum in the Kingdom, described as a first of its kind in the Middle East. Running from 25 to 27 February 2022, the forum will feature the Kingdom’s debut showcase of NFTs, on view alongside the Diriyah Contemporary Art Biennale in Riyadh.
Charting the history of NFTs from their inception seven years ago to the present, the talks programme will bring together artists, collectors and curators working in the space. Over three days, attendees can join a series of talks by experts in art, blockchain technology and NFTs, while Sotheby’s showcases a selection of NFTs and hosts daily workshops as part of the Biennale’s public programme.
The forum takes place during Saudi Arabia’s inaugural Diriyah Contemporary Art Biennale, which runs until 11 March and brings together Saudi and international artists. The daily sessions move from an introduction to NFTs and related artistic movements on Friday 25 February, to the new NFT ecosystem and its interaction with the traditional art market on Saturday 26 February, and buying habits, trends and the future for NFTs, with a focus on Saudi Arabia, on Sunday 27 February.
Workshops running through the days will cover how to explore the metaverse, set up a self-hosted wallet, and purchase and sell an NFT. Visitors can leave with a personalised POAP (Proof of Attendance Protocol), a digital collectible token that records their attendance on the blockchain.
Dina Amin, Chief Executive Officer of the Visual Arts Commission at the Ministry of Culture, said the partnership brings a unique opportunity to engage with NFTs and digital art in Riyadh as the Kingdom’s visual arts sector continues to grow.
Since its debut auction in April 2021, Sotheby’s sales in the NFT category have achieved approximately $100 million for 100 NFTs, setting several benchmarks including records for a single Crypto Punk at $11.8 million and a single Bored Ape at $3.4 million. In June 2021 the house launched a digital replica of its New Bond Street headquarters in Decentraland’s Voltaire Art District, and it later became the first auction house to create its own dedicated NFT platform, Sotheby’s Metaverse. More recently, Sandro Botticelli’s The Man of Sorrows transformed one of the house’s virtual galleries into a chapel interior ahead of its auction as part of Master Paintings in New York.
(Press Release)
