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On Friday, coinciding with the Summer Olympics opening ceremony, Muhammad Ali Enterprises and the fine auction house Sotheby\u2019s will be auctioning a non-fungible token (NFT) that features a never-before-seen piece of original artwork created by Muhammad Ali. According to the announcement the digitized NFT artwork depicts Ali\u2019s interpretation of the infamous 1971 \u2018Fight of the Century.\u2019<\/strong><\/p>\n This week Sotheby\u2019s and Muhammad Ali Enterprises, the owner of all intellectual property and publicity rights attached to boxing legend Muhammad Ali, revealed a new NFT auction that will be displayed and auctioned on July 23. According to the announcement, the 1-of-1 NFT is a never-before-seen piece of artwork the boxer created himself. The art is to be revealed for the first time ever using NFT technology.<\/p>\n Muhammad Ali\u2019s wife, Lonnie Ali explained that the art her husband created was displayed in the couple\u2019s home for two decades. \u201cThis mixed media illustration by Muhammad has been hanging in our home for almost 20 years and was a part of his personal art portfolio that he amassed throughout his life,\u201d Lonnie Ali said during the announcement. \u201cIt\u2019s 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.\u201d<\/p>\n The Muhammad Ali collectible NFT is meant to coincide with the Olympics opening ceremony on Friday alongside Sotheby\u2019s \u201cOlympic Collection<\/a>.\u201d The collection features \u201c50 of the rarest pieces of Olympic history and sports memorabilia,\u201d Sotheby\u2019s reveals. Ali\u2019s special NFT is the boxing legend\u2019s interpretation of the 1971 \u2018Fight of the Century.\u2019 The fight at Madison Square Garden in New York between Muhammad Ali and Joe Frazier is considered one of the greatest fights in history.<\/p>\n \u201cThe NFT will be a 50-second loop honoring the 50th anniversary of the legendary fight, with the crowd erupting in applause for 15 seconds to symbolize the fight\u2019s 15 rounds,\u201d the announcement from Sotheby\u2019s and Muhammad Ali Enterprises discloses.<\/p>\n <\/ins> <\/ins> <\/p>\n Sotheby\u2019s head of streetwear and modern collectibles, Brahm Wachter, commented on the upcoming Muhammad Ali NFT auction and he says the sale will be the luxury auction house\u2019s first sports-related NFT.<\/p>\n \u201cThis marks the first sports-related NFT Sotheby\u2019s has offered for sale,\u201d Wachter said. \u201cWe cannot think of a more perfect way to enter the market than through this unique NFT, which shows Muhammad Ali\u2019s creative side, exploring the boundaries between highly valued sports memorabilia and art,\u201d the Sotheby\u2019s executive added.<\/p>\n Wachter said that the Ali NFT compliments the Olympic Collection sale because the famous boxer was also an Olympian. Ali won the gold medal in 1960 at the Summer Olympics and Ali was given the honor of being able to light the Olympic Cauldron in 1996.<\/p>\n A Muhammad Ali NFT collection was introduced last March<\/a> called \u201cThe Ali Collection,\u201d which also featured his bout with \u2018Smokin\u2019 Joe Frazier in 1971. Ethernity Chain revealed the NFT collection in a partnership with the museum the Muhammad Ali Center.<\/p>\nLuxury Auction House Unveils the Olympic Collection Featuring a Rare Muhammad Ali Piece of Digital Art<\/h2>\n
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Sotheby\u2019s First Sports-Related NFT Auction<\/h2>\n