Sotheby’s and Muhammad Ali Enterprises, the owner of all intellectual property and publicity rights associated with boxing icon Muhammad Ali, announced a new NFT sale on July 23. Subsequently, they released an announcement that the NFT would be shown and auctioned. The one-of-a-kind NFT, according to the release, is a never-before-seen piece of artwork made. The revelation of the painting will utilise NFT technology.
Lonnie Ali’s Statement
Lonnie Ali, Muhammad Ali’s wife, stated that the couple’s house displayed her husband’s work for two decades. She, in an announcement, said:
“This mixed media illustration by Muhammad has been hanging in our home for almost 20 years and was a part of his art portfolio that he amassed throughout his life. It’s so exciting to see this piece transformed into an NFT. My husband was such an extraordinary person, and like NFTs that live forever, he will too.”
Coinciding with the Olympics
Along with Sotheby’s “Olympic Collection,” the Muhammad Ali collectable NFT will coincide with the Olympics opening ceremony on Friday. Moreover, Sotheby’s describes the collection as containing “50 of the rarest artefacts of Olympic history and sports memorabilia.” Ali’s unique NFT is a rendition of the 1971 “Fight of the Century” by the boxing superstar. Muhammad Ali’s battle with Joe Frazier in Madison Square Garden in New York. Subsequently, boxing fans worldwide regard this fight as one of the greatest fights in history.
Sotheby’s First Sports- Related NFT Sale
Brahm Wachter, Sotheby’s head of streetwear and modern collectables, remarked on the upcoming Muhammad Ali NFT auction. Additionally, he claims that it will be the auction house’s first sports-related NFT.
Wachter said:
“This marks the first sports-related NFT Sotheby’s has offered for sale. We cannot think of a perfect way to enter the market than through this unique NFT, which shows Muhammad Ali’s creative side, exploring the boundaries between highly valued sports memorabilia and art.”
