Sotheby's Generates $100M in NFT Sales in 2021
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Dec. 16, 2021
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Sotheby's generated $100 million in auctions of non-fungible tokens (NFTs), Bloomberg has learned, citing a year-in-review report.

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The British auction house made a whopping $24.4 million from selling a bundle of NFTs Bored Ape Yacht Club. The auction house also said its NFT marketplace called Sotheby's Metaverse brought new audience with 78% of NFT bidders at auction being new to Sotheby's.

Sotheby's Sells 101.38-carat Diamond for $12.3M in Crypto

In total, Sotheby’s sold a record $7.3 billion worth of art and other collectibles so far this year, which is the most in its 277-year history. The top selling was a Botticelli painting, which brought Sotheby's $92.2 million.

In May, one of the world's oldest auction houses started accepting cryptocurrency as payment via Coinbase Commerce. Sanchan Saxena, Vice President, Ecosystem at Coinbase said that the trading platform now supports payment estimated in the "eight-figure range." Sotheby's is not the only auction house to join the NFT craze.

As iHodl earlier reported, the British auction house Christie's sold an NFT by artist Mike Winkelmann, aka the digital artist Beeple, for a total of $69,346,250, which made the creator to be among the most expensive living artists to date.

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