Sotheby’s, the renowned auction house with a rich history spanning 279 years, has made a significant impact on the digital art market in the current year. Fine arts auction house Sotheby’s reported making “close to $35 million” in digital art sales in 2023, marking it as a standout year for the emerging sector.
On December 23, Michael Bouhanna, the company’s Vice President and Head of Digital Art, concluded Sotheby’s year results regarding digital art on X as “one of the most exciting years for digital art.” Notably, Sotheby’s conducted its first live digital art auction with 300 attendees, generating $12 million in sales. The auction house also set a new record for an individual digital artwork by selling Dmitry Chernyak’s non-fungible token (NFT) ‘Ringers #879’ for an impressive $6.2 million. In total, Sotheby’s conducted over 25 auctions focused exclusively on digital art or including it in contemporary art sales. The company launched its on-chain marketplace for the secondary trade of NFTs called Sotheby’s Metaverse. Furthermore, Sotheby’s partnered with 99-year-old artist Vera Molnar and Martin Grasser to launch the highly successful NFT collection “Themes and Variations.” This collaboration bridged the gap between generations and artistic mediums, proving that digital art can resonate with everyone. Earlier this year, Sotheby’s made history by auctioning the manuscript of Neal Stephenson’s cult novel “Avalanche,” believed to contain the first-ever use of the term “metaverse.” Looking ahead, Sotheby plans to refine its strategies in the primary market and continue supporting creators. (...) Source
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