Sotheby’s In 2021 Proceeds From The Sale Of NFT $ 100 Million

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 tenders are under 40 years, according to a report of the auction house.







Excluding those auctions that are planned 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.
 
 
 
 





 
 
 
 

New this morning: @Sotheby's announces upcoming sale with anonymous digital artist PAK







"It's still very early with crypto art in general," says CEO Charles Stewart on #NFTs. "This has the potential to bypass a lot of the traditional gatekeepers." pic.twitter.com/D0F4pppkmT
— Squawk Box (@SquawkCNBC) March 16, 2021
 
 
 
 
 





 
 
 
 





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.

#AuctionUpdate: Following a 14-minute bidding battle between 4 bidders, Banksy’s iconic protest image ‘Love is in the Air’ achieves $12.9 million. The sale marks the first time #cryptocurrency was accepted as a payment option for a physical artwork. #Banksy pic.twitter.com/uKIYeUu3IU
— Sotheby's (@Sothebys) May 12, 2021
 
 
 
 
 





 
 
 
 
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. 

Moments ago in our #London saleroom, an extremely rare “Alien” CryptoPunk #7523 from the collection of @sillytuna sold for $11.8M as part of our #NativelyDigital NFT auction – setting a new world auction record for a single CryptoPunk. pic.twitter.com/PDVUSttI3o
— Sotheby's (@Sothebys) June 10, 2021
 
 
 
 
 





 
 
 
 
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.