Art Broker Achieves $35M in 2023 Digital Art Sales

Sotheby’s has marked 2023 as a pivotal year in the realm of digital art, with a resounding success that echoes through its impressive financial achievements. Bouhanna, sharing the news on X (formerly Twitter), illuminated the outstanding performance of Sotheby’s in the digital art landscape, showcasing a record-breaking sale that exceeded $6 million.

2023 at Sothebys will remain one of the most exciting years for Digital Art!

🚨 What We Achieved 🚨

Close to $35 million in sales.

Launch of a fully on-chain secondary marketplace that honors creators’ royalties.

Our very first dedicated live auction with more than 300… pic.twitter.com/rabrxntz9Z

— Michael Bouhanna (@michaelbouhanna) December 23, 2023

The pinnacle of this accomplishment was unveiled in the announcement: “Achieved an all-time high price for a digital artwork in 2023: $6.2M for Dmitri Cherniak’s Ringers #879 (The Goose).”

Sotheby’s Two-Year Exploration into the World of Digital Art

Beyond this headline-grabbing sale, Bouhanna disclosed that the art broker orchestrated over 25 auctions, each meticulously tailored to spotlight digital art exclusively or seamlessly integrate it into contemporary art sales. A noteworthy milestone emerged with their inaugural dedicated live auction, which drew in a crowd of more than 300 attendees and resulted in an impressive $12 million in sales.

Sotheby’s immersion in the digital art space has been an ongoing exploration for just over two years. As early as October 2021, reports from AZC News hinted at Sotheby’s venture into the Metaverse, unveiling Sotheby’s Metaverse to cater to digital collectors with a carefully curated NFT collection. This strategic move proved prescient, as NFTs played a crucial role in sustaining art auctioneers throughout the challenges posed by the Covid-19 pandemic.

Moreover, the narrative emphasized the dual impact of NFTs, not only as a financial lifeline but also as a revolutionary force in art accessibility. With physical art spaces shutting down due to pandemic restrictions, NFTs emerged as powerful conduits for connecting artwork with audiences that conventional channels had struggled to engage.