At the end of 2023, sales of digital art at Sotheby’s reached almost $35 million, said Michael Buhanna, vice president and head of the relevant department at the auction house.
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2023 at Sothebys will remain one of the most exciting years for Digital Art!
🚨 What We Achieved 🚨
Close to $35 million in sales.
Launch of a fully on-chain secondary marketplace that honors creators’ royalties.
Our very first dedicated live auction with more than 300… pic.twitter.com/rabrxntz9Z
— Michael Bouhanna (@michaelbouhanna) December 23, 2023
According to him, the past year has been “one of the most exciting” for digital art. Sotheby’s managed to update the price record in the segment – $6.2 million for NFT Ringers #879 (The Goose) by artist Dmitry Chernyak.
In August 2021, the digital work of art was acquired by cryptocurrency hedge fund Three Arrows Capital (3AC). Following his bankruptcy in 2022, Sotheby’s auctioned off the 3AC NFT collection.
Among other achievements of the company, Bukhanna highlighted:
- launch of a secondary on-chain marketplace with royalties for NFT authors;
- first $12 million live auction with over 300 attendees;
- holding more than 25 digital art auctions;
- launch of the successful NFT collection Themes and Variations from 99-year-old artist Vera Molnar and Martin Grasser.
Let us recall that in February the auction house put up for sale the manuscript of the cult novel “Avalanche” by Neal Stephenson. The work is believed to be the first time the term “metaverse” appeared.
In July, Sotheby’s auctioned works by generative artists through its Gen Art Program using blockchain technology.
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2023-12-24 12:36:16
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