The art landscape has invariably changed in recent years thanks to NFT and the beginning of digital artwork; both for art collectors and for NFT enthusiasts, this boom has been both lucrative And controversial. But even though the buzz has died down, blockchain-backed art is still big business.
Take Sotheby’s latest auction. Sotheby’s, one of the world’s largest art and collectibles auctioneers, kicks off 2024 with an organized sale of Bitcoin Ordinalsor digital works registered on the Bitcoin blockchain.
The “Natively Digital” sale includes a range of works that showcase the diversity and creativity of digital art. This includes works by digital artists Mushroom, Lucretia, FARAnd Nothing. The collection features figures like Claudia Hart More lifea CGI animated work originally appeared on MoMa PS1; Lucretia Blessing between the worlds, a striking GIF created in 2024 that explores the artist’s relationship with Vietnamese Catholicism; And XCPinata’s cartoon-like graphic titled Cleaning.
“As Ordinals continue to attract the attention of collectors, this new path will push the boundaries of how we conceptualize digital collectibles,” said Michael Bouhanna, head of digital art at Sotheby’s, “all highlighting the unique convergence of digital art and crypto culture.”
Credit: Sotheby’s / Des Lucréce
The highlight of the auction would be Registration 21a work by artist Shroomtoshi, considered one of the most important works in Bitcoin culture, representing in the millions the total supply of Bitcoins that will ever be available for mining.
Credit: Sotheby’s / Shroomtoshi.
The works have an estimated value between $10,000 and $70,000. The sale started on January 12 and will continue until January 22.
Sotheby’s dive into digital art continues after huge sales in 2023, totaling more than $35 million. This is a 100 percent increase from the previous year, according to the auction house.