Sotheby’s Partners with Kresus for Secure NFT Storage

Sotheby’s, the internationally renowned auction house, has integrated support for the Kresus digital wallet into its NFT marketplace Sotheby’s Metaverse. This collaboration provides collectors looking to purchase high-value digital artworks with a secure and user-friendly solution for storing their NFT purchases.

Launched in 2021, Sotheby’s Metaverse serves as the premier destination for NFTs and digital art. The marketplace hosts exclusive NFT drops and exhibitions in collaboration with top traditional and digital artists. With the addition of Kresus, collectors can now easily acquire these rare digital artworks directly through Sotheby’s Metaverse and store them in their Kresus wallet.

Designed as a mobile-first “SuperApp”, Kresus aims to make storage and interaction with NFTs highly accessible. The wallet offers users a streamlined sign-up process through email, removing the need to retain cumbersome seed phrases. Advanced security features like biometrics and account recovery provide protection against loss of assets.

This provides a safety net for collectors, ensuring their expensive digital purchases remain securely in their control. Industry analysts note that this “goof-proof” approach removes a major source of risk for NFT investors, differentiating Kresus from other wallet providers.

“Sotheby’s is one of the oldest and most trusted names in the world of fine art and collectibles. Kresus is proud to be added to the short list of digital wallets available to collectors discovering digital art at Sotheby’s Metaverse” – Trevor Traina, CEO of Kresus

Sotherby Future Plans

The integration comes at an opportune time, as the market for highly valuable “blue chip” NFTs continues to grow. In 2021, Sotheby’s brokered the sale of rare CryptoPunk NFTs close to about $30 million, a record price for the collection.

Looking ahead, Sotheby’s plans to host more exclusive NFT sales featuring works by top digital artists. The integration with Kresus ensures bidders can securely store their prized NFT wins in one place on its user-friendly platform. By providing a simplified collecting experience, the partnership aligns with Sotheby’s goal of expanding NFT adoption among mainstream art collectors.