Phillips will source works by in-demand artists before their prices begin to skyrocket on the secondary market.
Nara is currently the subject of a retrospective at LACMA.
The works has was on loan at the National Museum of Women in the Arts since 2012.
The work will be the first NFT auctioned in the house's history.
Evarts has worked at New York's Di Donna Galleries for the past three years.
The total is a 20 percent increase over the 2020 New York edition.
Expected to fetch between $2.8 million–$4.2 million, the collage work measures over six feet on either side.
ARTnews in Brief: ICA Boston Names 2021 Recipients of James and Audrey Foster Prize—and More from February 26, 2021
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Clients based in Asia accounted for half of the house's top 10 sales.