Auction house “Sotheby’s” earned $ 100 million from the sale of NFT in 2021

Sotheby’s income from the sale of NFT

The income of the auction house “Sotheby’s” from the sale of non-fungible tokens (NFT) in 2021 amounted to $ 100 million. The Block writes about this, with reference to the report received from the representatives of the platform.

  • Sotheby’s entered the non-fungible token market in the spring of 2021. During this time, a large number of exclusive NFTs have been sold on the platform. For example, in June, Sotheby’s implemented the first-ever non-fungible token. A little later, in July 2021, NFT went under the hammer of the auction house with the original Internet code.
  • The report, which Sotheby’s representatives shared with the publication, states that about 78% of buyers of non-fungible tokens have not previously used the platform’s services. Also, the team of the auction house drew attention to the fact that about half of the users who purchased NFT with their help were under 40 years old.
  • Amid the growing popularity of non-fungible tokens, Sotheby’s representatives launched the Metaverse platform. Its users were given the opportunity to purchase NFTs, which are overseen by the auction house, for Ethereum, bitcoin, USDC stablecoins or fiat.
  • Also, the Sotheby’s team, following users’ requests, suggested that bidders pay for some lots on the original platform in cryptocurrency. The team of the popular crypto-exchange Coinbase helped the auction house launch the functionality for accepting payments in digital assets.

Against the background of the publication of the Sotheby’s report, information appeared on the network that the platform plans to hold an IPO in 2022. Bloomberg writes about this, with reference to information received from sources.

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