- Christie’s has revealed that it made nearly $150 million in revenue from NFT sales this year.
- The auction house’s total global sales this year were strong at $7.1 billion.
- Christie’s foray into the world of NFTs likely contributed to the wave of enthusiasm around NFTs in 2021.
Share this article
World-famous auction house Christie’s has made nearly $150 million in revenue this year from NFTs alone.
A Novel Moneymaker
Christie’s, the British auction house founded in 1766, announced today that it had sold close to $150 million worth of NFTs in 2021 “after launching this new market first on the global auction stage.”
This represents a rather small portion of Christie’s total sales this year, which it projects to be $7.1 billion globally; total sales for the auction house were roughly 54% higher than they were last year. These are Christie’s highest numbers in the last five years.
Traditional art still dominated Christie’s sales this year: two of the most valuable works sold at auction in 2021 were a Picasso at $103.4 million and a Basquiat for $93.1 million. However, the same May evening that the Basquiat sold, nine CryptoPunks—arguably the most famous NFT collection in the world—sold at auction for a total of $16.9 million.
Beeple was easily the most valuable NFT artist represented in the auction house’s catalog this year. In March, he sold his “Everydays: The First 5,000 Days” NFT at Christie’s for $69.34 million. This sale arguably kicked off the NFT craze that characterized this year.
In November, Christie’s sold another one of Beeple’s works, called “HUMAN ONE,” a 7-foot-tall astronaut sculpture that was paired with an NFT, for just under $29 million. That same month, Christie’s and OpenSea partnered to sell a whole collection of NFTs.
Total sales volume for the entire NFT market has been estimated at $12 billion in 2021, which might make the $150 million done at Christie’s seem rather small in comparison. However, it seems likely that Christie’s entrenched position in the traditional art world helped to elevate NFT art to new level of respectability.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
Beeple’s NFT-Paired Astronaut Sculpture Sells for $29M at Christ…
Towards the end of the auction, six-figure bids started to feel boring and tame. Beeple Gets Real Last night, one of the most valuable living artists in art auction history,…
Beeple NFT Now World’s 3rd Most Expensive Auctioned Piece by Living …
Digital art superstar: Beeple’s “Everydays: The First 5,000 Days” has sold for $69.34 million in a landmark moment for the NFT space. Christie’s Hosts Landmark NFT Auction Beeple’s “Everydays: The…
Metapurse Founder Bought Beeple’s $69.34 Million NFT
The founder of the world’s biggest NFT fund bought Beeple’s landmark piece. They paid 42,329 ETH for the sale. MetaKovan Wins Beeple Bidding War MetaKovan, the pseudonymous founder of the…
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…