NFT sales by Christie’s auction house total almost $150 million this year

Christie’s, a British auction house, said on Twitter that it has sold approximately $150 million in non-fungible tokens (NFT) this year. Artworks from Beeple’s EVERYDAY series and HUMAN ONE were among the items sold.

The figure reflects the high level of interest in the NFT domain, particularly among established organizations and people.

Two of Beeple’s artworks account for the majority of the sales. The first, EVERYDAY, sold for $69 million in March, and the second, HUMAN ONE, sold for $29 million in November. Christie’s sold nearly $7 billion in artworks in total.

More NFTs being sold

NFTs have enjoyed a banner year, with prominent auction houses such as Christie’s and Sotheby’s selling more of them than ever before. 

The development demonstrates the extent to which NFTs have penetrated the art business, a fact that is becoming more apparent by the month.

Christie’s just started auctioning rare NFTs with live Ethereum bidding, which is a first for auction houses. An Andy Warhol work from the 1980s is one of the more high-profile NFTs that has been sold for reasons other than pure monetary value.

In terms of NFTs, auction house Sotheby’s had a good year in 2021. A Banksy painting was sold for $12 million in the auction house’s first ETH sale. 

Sotheby’s also sold the Bored Ape NFT collection for $24 million, a month before announcing that it will create an NFT marketplace.

Will NFT sales improve in 2022?

The world of art auctions is gradually being taken over by NFTs. Christie’s even held an Art + Tech meeting to discuss how NFTs might affect the art industry. 

In addition, the auction house has begun to accept cryptocurrency as payment for auctions.

Such advancements point to a bright future for NFTs, which have received both praise and criticism for what they are. 

The utility and sales volumes of NFTs are only likely to increase as the metaverse grows in popularity.

 

Image courtesy of Cointelegraph News/YouTube

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