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Centuries-old auction house Sotheby’s is launching a new blockchain-based program for generative artists, Golden Finance reports. Dubbed the Gen Art initiative, Sotheby’s will showcase the work of two to three generative artists each year in fully on-chain auctions using generative asset creator Art Blocks Engine.
The auction house will host the project's first sale on July 26, when it will sell 500 works by generative artist Vera Molnár. Molnár, 99, has been experimenting with algorithms and generative work since the 1960s.