Michael Buanna, Vice President and Head of the Digital Art Department at Sotheby’s, has declared 2023 as a triumphant year for digital art at the renowned art brokerage firm, despite mixed reviews on non-fungible tokens (NFTs). In a post on X (formerly Twitter), Buanna detailed Sotheby’s achievements in the digital art arena in 2023, emphasizing that the highest sale exceeded $6 million.
Furthermore, Buanna stated that Sotheby’s conducted more than 25 auctions focused solely on digital art or incorporating it into contemporary art sales. He highlighted another significant moment – their “very first specialized live auction, which involved over 300 participants and raised a total of $12 million.”
Sotheby’s has actively explored the digital art space for just over two years. In October 2021, BeInCrypto reported that Sotheby’s would launch Sotheby’s Metaverse to offer a curated collection of NFTs to digital collectors. It was noted that NFTs played a crucial role in sustaining art auctions during the Covid-19 pandemic when many physical art spaces frequented by art enthusiasts were forced to close their doors.
