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Sotheby’s, a premier auction house, said it sold almost $35 million worth of digital art for 2023 alone. The British-founded company noted that with this number of sales, the year was definitely “one of the most exciting years.”
As per CoinTelegraph, Sotheby’s also recorded the highest fee for auctions related to digital artwork this year. The total earnings were shared by Michael Bouhanna, the vice president and head of digital art at the auction house. He joined the company in London as a Contemporary Art Specialist in 2017.
Record Digital Art Sales at Sotheby’s
Bouhanna revealed the numbers via a post on social media. He said that Sotheby’s year-end results for digital art sales include their first live digital art auction that was participated in by 300 bidders. This event alone already raked in $12 million in sales.
So far, the highest fee ever recorded for digital artwork was selling a non-fungible token item titled “Ringers #879.” This NFT was created by Dmitri Cherniak and sold for $6.2 million.
Exclusive Digital Asset Auctions
Crypto News reported that, all in all, Sotheby’s held more than 25 auctions that exclusively featured digital art. In addition, the auction house also introduced its on-chain marketplace for secondary trading of digital tokens or NFTs. The company named this site the “Sotheby’s Metaverse.”
The bidding place also partnered with veteran artists Vera Molnar and Martin Grasser to debut the NFT collection titled “Themes and Variations.” These highly successful non-fungible tokens showcased the talents of the 99-year-old artist while proving that art transcends generations and digital art can simply resonate with everyone.
Meanwhile, only in April 2021 did Sotheby’s first include NFTs in its auction events. It has since been achieving record-breaking digital art sales.
Photo by: Dirk Ingo Franke/Wikimedia Commons(CC BY-SA 3.0)
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