Sotheby’s sold $35 million worth of digital art in 2023
Fine arts auction house Sotheby’s made “close to $35 million” in digital art sales this year. The numbers were provided by Michael Bouhanna, the vice president of the company and its head for digital art, who called 2023 “one of the most exciting years for digital art.”
On Dec. 23, Bouhanna concluded Sotheby’s year results regarding digital art in his X (former Twitter) account. In 2023, Sotheby’s conducted its first live digital art auction with 300 attendees and $12 million in sales. It also recorded the highest fee for digital artwork yet, selling the non-fungible token (NFT) under the title “Ringers #879”, created by digital artist Dmitri Cherniak, for $6.2 million.
Related: Sotheby’s and Yuga Labs respond to lawsuit from Bored Ape investors
Altogether, the house has conducted over 25 auctions, focusing exclusively on digital art or including it in contemporary art sales. The company has also launched its on-chain marketplace for the secondary trade of NFTs, called Sotheby's Metaverse.
According to Bouhanna, next year, Sotheby’s will focus on “supporting creators and enhancing their primary market strategies.” Cointelegraph reached out for further details.
The 279-year-old British-American clearing house made its first appearance on the NFT scene in April 2021, when it auctioned off the work of a pseudonymous digital artist known as Pak. Since then, Sotheby’s has conducted a number of record-breaking digital art sales.
With a recent Bitcoin bull run, the NFT space has experienced a comeback, with the overall trade volume nearing $1 billion in November . During that month, the average value of NFT transactions surged by 114%, going from $126 to $270, suggesting that users are more willing to perform higher-value trades than in the previous months.
Magazine: DeFi’s billion-dollar secret. The insiders responsible for hacks
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
38% Dogecoin Rebound, Cardano Tests AI Limits, But Unstaked’s AI Advantage Steals the Show
Dogecoin (DOGE) jumps 38%, and Cardano (ADA) launches an AI testnet, but Unstaked’s advanced AI agents go beyond marketing, offering real impact and value.Dogecoin (DOGE) Future: Aiming for $3.94 with MomentumCardano (ADA) Blockchain Tests AI ScalabilityUnstaked: AI That Goes Beyond MarketingFinal Take: Real AI Utility vs. Hype

ETH Trades at Historic Lows vs BTC Since 2019
ETH hits lowest value compared to BTC since 2019, raising questions on a potential rebound amid mixed fundamentals.ETH Undervalued Against BTC: A Historical SetupBullish History, Bearish FundamentalsPatience Required for Ethereum Bulls

Popcat Climbs, Dogecoin Stalls, But BTFD Triples Tokens with 200% Bonus—Best Meme Coin Presale to Buy Now Before May 26 DeadlineConclusion: Don’t Mis
BTFD Coin surges in Stage 15 with 90% APY staking and 200% bonus. Best meme coin presale to buy now before it launches on May 27!BTFD Coin (BTFD) – The Bulls Are Charging, Are You In?Dogecoin (DOGE) – The OG Meme King Facing Shaky GroundPopcat (POPCAT) – The Smart Money Magnet of the Moment

SHIBA’s Hype Fades, ADA Devs Work; Meanwhile, Web3 ai Becomes Highest Trending Crypto With $500K Frenzy
Explore Shiba Inu (SHIBA) recovery trends, Cardano (ADA) prediction backed by developer growth, and how Web3 ai’s Portfolio Optimizer replaces guesswork with smart strategy. Learn why Web3 ai is gaining traction among the highest trending crypto tools.Web3 ai’s Portfolio Optimizer Turns Guesswork Into GainsShiba Inu (SHIBA) Recovery Sparks Renewed Interest After Key Price ReboundCardano (ADA) Prediction: Development Surge Fuels Bullish OutlookStrategy Over Speculation

Trending news
MoreCrypto prices
More








