Phillips, a global auction house, launched a nine-day non-fungible token (NFT) auction on Monday, Valentine’s Day, in Hong Kong.

Fast facts

  • Six artworks are being auctioned as NFTs.
  • One NFT for bidding is an auction data-generated NFT “Drowning in Love” made by MonoC, a virtual artist developed by Gusto Collective.
  • MonoC is a virtual metahuman influencer, Gusto Collective founder and CEO Aaron Lau told Forkast.
  • MonoC will input at least 100,000 data points from the real-time web auction to generate algorithms rendering the NFT in a video form, which will be auctioned off at an opening bid of HK$1,000 (US$128) on Feb. 22, Lau said.
  • For all six NFTs, Phillips will accept Ethereum or Bitcoin as a payment option in addition to Hong Kong dollars.