Christie’s auction house exceeds $100 million in NFT sales

NEW DELHI : Auction house Christie’s has crossed the $100 million cap for the first time in sales of non-fungible tokens or NFTs worldwide.

“We broke the cap of $100 million in #NFT sales worldwide. We achieved this historic milestone with the record success of our first-ever Asian NFT auction, which closed online in Hong Kong on September 28 and fetched a total of HK$122 million ($15.6 million). US dollars),” Christies tweeted on September 29.

NFTs are crypto-assets that denote an intangible digital item such as a game item, video, or image. Worldwide, NFTs have brought in billions of dollars.

The first NFT sale at Christie’s was in October 2020. Beeple’s monumental ‘Everydays: The First 5,000 Days’ sold for $69 million in March 2021. The artwork combined 5,000 images created over 13 years in the first purely digital NFT artwork offered by a major auction house. It was also the third highest price for a living artist at auction.

Guillaume Cerutti, CEO of Christie’s, said surpassing the $100 million milestone is huge for creators and collectors in the NFT community.

“The NFT Marketplace is here to stay. We will continue to invest in the opportunities NFTs provide us to deeply engage with new audiences and artists, an exciting new generation of collectors, and larger, inclusive markets,” a- he declared.

According to DappRadar, which tracks sales across multiple blockchains, volumes were just under $2.5 billion for the first half of 2021. NonFungible.com said the figure was $1.3 billion. billion, excluding approximately $8 billion of “DeFi” (decentralized finance) NFT.

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