Pak is the pseudonym of an anonymous digital artist whose work explores scarcity, participation, and value through digital media and NFTs. Two well-documented projects are The Merge, released through Nifty Gateway in December 2021, and The Fungible, presented with Sotheby’s on Nifty Gateway in April 2021. Sale totals describe those specific drops; they are not a current valuation of Pak’s entire body of work.
The Merge and Its “Mass” Units
Nifty Gateway’s co-founders reported that 28,983 collectors spent $91,806,519 over 48 hours to acquire 312,686 units of “mass.” At the end of the sale, each collector’s units were combined into a dynamic NFT that could grow as additional mass was acquired. The headline figure is the aggregate gross sale across many buyers and units, not the price paid for one NFT or a guaranteed resale value.
The Fungible Collection
Sotheby’s describes The Fungible as a Pak collection sold exclusively through Nifty Gateway from April 12 to 14, 2021. Its catalogue includes open-edition cubes and one-off works such as The Switch and The Pixel; Sotheby’s reports a total sale amount of $16,825,999. The different editions and sale formats are part of the project’s structure, so it is more accurate to discuss the collection’s specific works than to treat every piece as interchangeable.
What NFT Ownership Does—and Does Not—Establish
An NFT can record control of a particular token and point to associated media, but a token purchase does not automatically transfer copyright or every legal right in an artwork. Those rights depend on the applicable terms and contracts. Likewise, the fractionalization of a work or the growth mechanic in The Merge should be described by its actual token design, not assumed to create ordinary shares in an artist’s whole catalogue.
Why Pak’s Work Is Discussed
Pak’s projects are notable in digital-art history because their distribution rules became part of the artwork: buyers’ actions affected edition count, aggregation, or visual scale. The sales attracted exceptional attention at the time, but a record-setting auction result is a historical fact about one transaction window, not evidence that NFTs generally retain value or that a later buyer can resell at the same level.
Last updated: October 24, 2026
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See Also
- OpenSea’s Trading Cards Tab: What Do You Actually Own?
- NFTs and Digital Game Ownership: What Actually Changes (And What Doesn’t)
- Blur Will Close Its Website on November 12: Which NFT Marketplaces Are Still Open?
- Compare crypto exchange options with ChangeNOW
Sources
- Pak’s “Merge” Drop — Gemini / Nifty Gateway — Nifty Gateway’s co-founders report the 48-hour gross sales, collector count, unit count, and how collectors’ mass was combined into dynamic NFTs.
- The Fungible Collection by Pak — Sotheby’s — The sale catalogue identifies the collection’s formats, sale dates, works, and reported $16.8 million total.
- The Fungible Collection Press Release — Sotheby’s — Sotheby’s contemporaneous announcement documents its multi-day NFT sale with Pak on Nifty Gateway.