NFTs Are No Longer Needed, So Christie’s Shuts Down Digital Art Department
NFT have become of no use to anyone, so Christie’s, considered the world’s largest auction house specializing in the sale of paintings, is closing its digital art department.
Christie’s has been one of the main catalysts for the growth in demand for non-fungible tokens, as the company managed to hold an incredibly successful auction in 2021, selling for $69,3 million NFT Everydays: The First 5000 Days, created by artist Mike Winkelmann, aka Beeple.
Token Everydays: The First 5000 Days
In September 2022, when popularity NFT peaked, Christie’s opened Block-an auction platform called Christie’s 3.0 and established a digital art department. However, three years later, the company’s management chose to close this department, and storm clouds gathered over the still-operating Christie’s 3.0 platform.
Christie’s employees have made a strategic decision to change the format of sales of digital art. The company will continue to exhibit NFT for auctions in the broader category of “Art of the 20th and 21st Centuries,” the organization’s press release states.
It is clear that Christie’s bosses have slashed their digital painting department as a result falling demand for NFTs, which accelerated in the summer of 2025. In the fall, the negative trend noticeably intensified, and the trading volume of non-fungible tokens in the first week of September fell to its lowest since June at $91,96 million.
