Christie's is closing its NFT digital arts division
2025-09-09 05:35:24
British auction giant Christie's has announced the closure of its digital art division, which specializes in NFT sales, and will continue to sell digital art through the broader 20th/21st century art category in the future. The "strategic decision" is reportedly accompanied by the layoffs of two employees, including its vice president of digital art, but at least one digital art specialist will remain in place. The move may be related to the shrinking global art market, with global art sales falling by 12% to $57 billion in 2024 and auction house public and private combined sales falling by 20% to $23 billion.
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