Posted: December 25, 2023 5:06 AM Updated: December 25, 2023 5:06 AM
Correction and fact check date: December 25, 2023, 5:06 AM
briefly
Sotheby’s reported that digital art sales reached $35 million by the end of 2023, marking one of the most exciting years for digital art.
Sotheby’s Digital Art Department reported that digital art sales at auction reached $35 million by the end of 2023. Michael Buhanna, vice president and head of the digital art and NFT division, described the past year as one of the most exciting years for digital art.
During the year, the auction house sold artist Dmitry Chernyak’s NFT Ringers #879 for $6.2 million, setting a new price record in the category. The collection, acquired by cryptocurrency hedge fund Three Arrows Capital (3AC) in August 2021, was auctioned by Sotheby’s following 3AC’s bankruptcy in 2022.
The focus of next year’s auction will be on creative support and implementation of key market strategies.
Sotheby’s Takes Bitcoin Ordinal Survey
In a recent development, Sotheby’s Digital Art department has concluded its first auction of Bitcoin Ordinals art, featuring works from the BitcoinShrooms collection by enigmatic artist Shroomtoshi.
This collection pays homage to the early days of the cryptocurrency by providing a comprehensive exploration of the culture and history of Bitcoin. BitcoinShrooms, made up of over 200 pieces, is located on Mt. It commemorated key moments and symbols in Bitcoin’s journey, including the Gox incident and the hot wallet concept.
The sale marks Sotheby’s entry into the Bitcoin Ordinals art market and demonstrates the convergence of digital art and cryptocurrency culture.
Bitcoin Ordinals have attracted increasing market interest since its launch, with major exchanges including Binance and OKX starting trading these digital assets.
Sotheby’s sales results highlight the growing popularity of digital art. This auction’s exploration of the Bitcoin Ordinals art market further solidifies Sotheby’s ongoing support for the convergence of digital art and cryptocurrency, opening new horizons for cultural expression and financial innovation.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
more articles