The year 2023 will go down in the annals of Sotheby’s, the 279-year-old British-American auction house that has seen spectacular growth in digital art. Under the leadership of Michael Bouhanna, the company’s vice-president responsible for digital art, Sotheby’s achieved digital sales approaching $35 million this year, marking a significant milestone in the evolution of this ever-expanding artistic universe.
A Record $6.2 Million for a Digital Work
Sotheby’s most significant auction of 2023 took place at the first live digital art sale, attracting 300 participants and generating an impressive $12 million in sales. The event also witnessed the realization of the highest price ever recorded for a work of digital art. The non-fungible token (NFT) entitled “Ringers #879,” created by digital artist Dmitri Cherniak, found a buyer for the remarkable sum of $6.2 million.
A Year of Digital Art
Over the course of the year, Sotheby’s organized more than 25 auctions, focusing exclusively on digital art or integrating it into contemporary art sales. The auction house also took a major initiative by launching its own decentralized (on-chain) marketplace dedicated to secondary trading in NFT, called Sotheby’s Metaverse.
According to Michael Bouhanna, the year ahead will be marked by a strengthened commitment to creators, focusing on supporting their initiatives and enhancing their primary market strategies. This is testament to Sotheby’s ongoing commitment to the digital art sector and to fostering a thriving ecosystem.
In summary, 2023 will be remembered as a crucial period for Sotheby’s in the field of digital art. Notable achievements, such as the record-breaking sale of “Ringers #879” and the launch of Sotheby’s Metaverse, mark a significant transition to an era where digital art takes center stage. As Sotheby’s writes a new chapter in its centuries-old history, the digital art world embraces an era of infinite possibilities.
