- Art auction house Sotheby’s is wading deeper into the digital asset waters with the launch of its own secondary marketplace for fine art nonfungible tokens .
The integrated sales system for the secondary marketplace will be fully on-chain via the Ethereum and Polygon networks, and users can pay using the native ETH or MATIC token. Royalty payments have been a point of contention on other NFT platforms – including OpenSea, the largest NFT marketplace by volume – with many platforms lowering the royalty amount they pay out to artists in an effort to attract more users and increase their market share.
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