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“You can’t just keep selling NFTs without that cultural context.”

“These are the godfathers and godmothers of digital art that you need to know,” Levin said of the older artists included in the auction. The art adviser Todd Levin said that sellers are producing more historically informed exhibitions to broaden the market’s appeal and create a sustainable business model. NFTs of art and collectibles generated more than $23 billion in sales, according to some industry reports, a number that some experts have said could indicate a bubble getting ready to burst. Having more than a half-century of history behind generative art helps soothe the skeptics, he said, adding, “Discussions with traditional collectors have been easier.” “Generative art is a movement that has sparked interest,” said Michael Bouhanna, 30, a contemporary art specialist who organized the Sotheby’s sale. The Sotheby’s press release says “the prescient and pioneering work” by Molnar, Csuri and Verostko “has provided the foundation for the digital artists at the forefront of the digital art and NFT movement.” Examples include artists working in the 1960s and 1970s like Vera Molnar, Chuck Csuri and Roman Verostko alongside more recent offerings from the digital artists Dmitri Cherniak, Tyler Hobbs and Anna Ridler. The event features some of the earliest examples of generative art, a genre where control of the creative process is determined by algorithms or a predetermined process to create images.