Since the beginning of 2021, the revenue of one of the largest and oldest auction houses in the world from its transactions amounted to $ 7.3 billion.
One of the largest and oldest auction houses in the world, Sotheby’s, which was founded in 1744, raised $ 100 million from the sale of non-fungible tokens (NFT) in 2021. At the same time, about 78% of bidders on NFT used Sotheby’s for the first time, and more than half of the participants such trades are not yet 40 years old, according to the auction house.
Excluding those auctions that are scheduled to be held before the end of this year, Sotheby’s has already raised $ 6 billion in 2021, which is 71% more than last year. Another $ 1.3 billion came from private transactions.
Sotheby’s first put up for sale NFT in April this year. Non-fungible tokens were tied to works by anonymous digital artist PAK. More than 3 thousand people took part in the auction. All NFTs were sold for $ 16.8 million.
In May, Sotheby’s, for the first time in its history, allowed to pay for the purchase of a painting with cryptocurrency. The first lot of the auction house sold for cryptocurrency was the work of artist Banksy.
In June, Sotheby’s announced the sale of a rare NFT token “Alien” # 7523 (“Alien”) from the CryptoPunks collection for $ 11.8 million. This is a record price of one NFT token from this collection. Also in June, the auction house also held an auction for the world’s oldest NFT token, Quantum geometric animation by digital artist Kevin McCoy.