Christie’s May Close Digital Art Department, Shift NFT Sales Into Broader Art Category as Ether Strengthens
The post Christie’s May Close Digital Art Department, Shift NFT Sales Into Broader Art Category as Ether Strengthens appeared on BitcoinEthereumNews.com.
Christie’s is folding its dedicated digital art department into its broader 20th & 21st century art division while continuing NFT sales; the move responds to weaker secondary-market returns and a contracting global art market, but Christie’s will still auction NFTs under a larger category. Christie’s merges digital art into broader auction category Decision follows reduced art-market sales and internal restructuring; some digital art staff retained. Global art sales fell 12% in 2024; auction sales declined 20% per Art Basel & UBS Art Market Report 2025. Christie’s digital art department merges into 20th & 21st-century category — learn why this matters for NFTs and collectors. Read the latest analysis from COINOTAG. What is happening to Christie’s digital art department? Christie’s digital art department is being closed as a standalone unit and absorbed into the auction house’s 20th and 21st-century art category. The house will continue to offer NFTs and digital art at auction, but the structural change reflects lower secondary-market revenues and a strategic consolidation. Why is Christie’s restructuring its NFT operations? Christie’s cited a “strategic decision” tied to market conditions. The broader art market contracted in 2024, with global sales down 12% to $57 billion and combined auction sales down about 20%, according to the Art Basel & UBS Art Market Report 2025. Auction houses are reassessing departments that underperform on revenue. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); }…
Filed under: News - @ September 9, 2025 8:29 am