Auction house Christie’s NFT sales fell 96% in 2022
NFT
Artwork public sale home Christie’s noticed an amazing lower in NFT gross sales this yr in comparison with 2021, regardless of a bumper yr elsewhere in its artwork enterprise.
Christie’s offered 87 NFTs in 2022 for a complete of $5.9 million. In 2021, the artwork public sale home offered over 100 NFTs value greater than $150 million — one in all them being Beeple’s “Everydays: The First 5000 Days” NFT for $69.4 million. Christie’s NFT gross sales fell 96% between 2021 and 2022.
Regardless of the decrease NFT quantity, Christie’s made notable progress in advancing its web3 and NFTs vertical in 2022. It established a enterprise fund that made its first funding in blockchain interoperability startup LayerZero on Jul. 18. Christie’s additionally offered items by 18-year-old NFT artist Diana Sinclair, who had created media for a $1 million NFT sale of an unreleased Whitney Houston observe, The Block beforehand reported. Sinclair later signed on with the key expertise illustration agency United Expertise Company.
Depressed market situations led to fewer NFT trades throughout the board in 2022. Nevertheless, this yr did additionally see its highest NFT buying and selling quantity ever on the week of Could 1, coming in at $1.2 billion, The Block’s Knowledge Dashboard reveals.
