Sotheby’s is enjoying its most profitable year in its 277-year history. The auction house has consolidated sales this year of $ 7.3 billion, of which $ 100 million is from Sotheby’s NFT. In light of this incredible feat, Sotheby’s emphasized that 78% of NFT bidders were new bidders. Some of the famous NFT auctions include the CryptoPunk and Bored Ape Yacht Club (BAYC) collections.
Sotheby’s has called 2021 a historic year as they have broken several records and achieved many accomplishments. First of all, the company linked its success to the influx of new young traders, as well as to the emergence of its digital market.
Apparently the company has progressed rapidly since the first sale of NFT in April 2021. Sotherby’s Metaverse has been running since October and exclusively hosts all available NFT companies. The Metaverse is built on Decentraland and is intended to be a replica of her London gallery.
2021 is not over yet and that record will expand with 20 more auctions scheduled for the remainder of December.
