Christie’s Shutters Digital Art Department Amid NFT Market Slump

Christie’s has disbanded its digital art division, marking an abrupt end to its high-profile foray into NFTs. The auction house let go two key staffers—including digital art VP Nicole Sales Giles—while retaining specialist Sebastian Sanchez in New York. The MOVE signals retreat from a sector Christie’s once championed as transformative for art markets.

Giles had been instrumental in positioning NFTs alongside traditional artworks, notably during last year’s Art+Tech Summit in Hong Kong. There, she emphasized Christie’s rigorous valuation approach while acknowledging digital art’s unique community-driven dynamics. "The engagement aspect disrupts traditional art paradigms," she argued during the Fintech Week-adjacent event.

Industry leaders at the summit conceded the asset class remained immature. Art Basel Hong Kong director Angelle Siyang-Le noted the absence of standardized valuation frameworks, suggesting the NFT boom was fueled more by speculative frenzy than intrinsic value. The closure underscores broader institutional skepticism as crypto winter persists.