Christie’s Axes Digital Art Division Amid NFT Market Collapse

Auction Giant Pulls Plug on NFT Experiment

Christie's just delivered the art world's most brutal reality check—shuttering its entire digital art department as NFT valuations continue their spectacular implosion. The move signals a dramatic retreat from what was once hailed as the future of art collecting.

Market Reality Bites

While crypto maximalists promised permanent digital scarcity, traditional art institutions are discovering that JPEG ownership rights don't pay the bills when speculative fever cools. The department's closure follows months of declining sales volumes and failed high-profile auctions that left seven-figure NFTs gathering digital dust.

Traditional Finance's Quiet Smirk

Wall Street veterans are watching with barely concealed satisfaction as another 'disruptive' asset class proves better at generating headlines than lasting value. Because nothing says sustainable investment like paying millions for bragging rights to a cartoon ape that's now worth less than a decent printer.