Michael Bouhanna, serving as Vice President and leading the Digital Art division at Sotheby’s, announced a successful year for the digital art sector at the renowned art brokerage firm. This achievement comes amidst a year that saw varied responses and opinions regarding non-fungible tokens (NFTs).
“2023 at Sothebys will remain one of the most exciting years for Digital Art,” he stated.
Sotheby’s Record All-Time High Price for Digital Artwork
In a message shared on X (previously known as Twitter), Bouhanna provided insights into Sotheby’s significant strides in the digital art space during 2023. He emphasized that their top sale reached over $6 million, setting a new record for the year.
The post included a notable achievement: “2023 saw a record-breaking sale of a digital piece at $6.2M for Dmitri Cherniak’s Ringers #879 (The Goose).”
Additionally, Bouhanna mentioned that the brokerage hosted upwards of 25 auctions, either focused solely on digital art or incorporating it within contemporary art sales.
A major event he highlighted was their inaugural dedicated live auction, which attracted over 300 participants and successfully garnered $12 million.
Sotheby’s Explores Digital Art for Nearly Two Years
On October 18, BeInCrypto announced that Sotheby’s was set to introduce Sotheby’s Metaverse, a new platform designed to provide digital collectors with a carefully selected range of NFTs.
Throughout the Covid-19 pandemic, NFTs played a crucial role in sustaining the business of art auction houses.
Additionally, numerous physical art venues that were popular among art enthusiasts had to shut down during the pandemic.
NFTs have also been effective in reaching new audiences that conventional art distribution channels have not been able to engage.
Source: beincrypto