Sotheby's Sees $35 Million In Digital Art Sales In 2023

Michael BOUHANNA, vice president and head of digital art at Sotheby’s, declared a triumphant year for digital art at the renowned art brokerage, despite mixed reviews for non-fungible tokens (NFTs). In a post on X (formerly Twitter), Bouhanna detailed Sotheby’s achievements in the digital art arena in 2023, highlighting that the highest sale exceeded $6 mln.

In addition, Bouhanna said Sotheby’s held more than 25 auctions that focused exclusively on digital art or included it in its contemporary art sales. He pointed to another highlight being their “very first dedicated live auction with more than 300 attendees, achieving $12 million.”

Sotheby’s has been actively exploring the digital art space for just over two years. In October 2021, BeInCrypto reported that Sotheby’s would launch Sotheby’s Metaverse to offer digital collectors a curated collection of NFTs. It further noted that NFTs have played an important role in keeping art auctioneers afloat during the Covid-19 pandemic. Additionally, many physical venues frequented by art lovers were forced to close their doors.

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