Sotheby’s Digital Art Achieves an All-Time High of $35 Million in Sales by 2023

Sotheby’s Digital Art Department Sotheby’s reported that the total earnings from digital art sales in auctions reached $35 million by 2023's conclusion. Michael Buhanna, Vice President and Head of Digital Art and NFTs, emphasized that the previous year proved incredibly vibrant for digital artistry.

Throughout the year, the auction house achieved a remarkable milestone by selling NFT Ringers #879, created by artist Dmitry Chernyak, which brought in an astounding $6.2 million. This piece was previously held by the cryptocurrency hedge fund 3AC, which bought it in August 2021, and was later auctioned by Sotheby’s after 3AC declared bankruptcy in 2022. Three Arrows Capital Looking ahead, the auction house plans to concentrate on fostering creation and implementing primary market strategies in the upcoming year.

2023 will be remembered as one of the most thrilling years for Sotheby’s in the realm of digital art!

In a recent update from Sotheby’s Digital Art Department, the team conducted its inaugural auction focused on Bitcoin Ordinals art, spotlighting works from the mysterious artist Shroomtoshi.

This collection offered an in-depth look at Bitcoin’s cultural and historical landscape, celebrating key moments from the cryptocurrency’s early days. The assortment included over 200 creations, paying homage to significant events and symbols in Bitcoin’s evolution, such as the Mt. Gox incident and the notion of a hot wallet. concluded This auction signified Sotheby’s entry into the burgeoning market of Bitcoin Ordinals art, exemplifying the intersection of digital art and the cryptocurrency movement. BitcoinShrooms collection . 

Since their inception, Bitcoin Ordinals have generated a surge of interest, with leading exchanges like Binance and OKX starting to facilitate trades in these digital assets.

The results from Sotheby’s sales underscore the rising fascination with digital art. The venture into Bitcoin Ordinals art not only highlights Sotheby’s commitment to the fusion of digital artistry and cryptocurrency but also introduces a new era for cultural expression and financial creativity.

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Alisa, a passionate journalist at Cryptocurrencylistings, has a specialization in cryptocurrency, zero-knowledge proofs, investments, and the broad field of Web3. With a sharp sensibility for emerging trends and technology, she offers thorough insights that keep readers informed and engaged in the rapidly changing landscape of digital finance.