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Christie's to Close NFT Digital Art Department, Merge into Contemporary Art Category
Summary: According to reports, British auction house Christie's announced the closure of its NFT digital art department, with future digital art sales to be conducted under the broader 20/21st century art category. This adjustment will result in the dismissal of two employees, including the vice president of digital art, but at least one digital art expert ...
According to reports, British auction house Christie's announced the closure of its NFT digital art department, with future digital art sales to be conducted under the broader 20/21st century art category. This adjustment will result in the dismissal of two employees, including the vice president of digital art, but at least one digital art expert will be retained. Industry analysts believe this move may be related to the global art market downturn, with global art sales declining by 12% to $57 billion in 2024, and auction house sales totaling $23 billion, a 20% year-on-year decrease.
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Link: Christie's to Close NFT Digital Art Department, Merge into Contemporary Art Category [Copy]
