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Christie’s shuts down NFT department
Christie’s has officially announced the closure of its digital art division, transferring the sale of digital art and NFTs (Non-Fungible Tokens) into the broader 20th and 21st-century art category. The move coincides with the departure of Nicole Sales Giles, Vice President of Digital Art, who confirmed her exit to Now Media. A Christie’s spokesperson described the restructuring as a “strategic decision to reformat digital art sales.” Reports indicate that two employees have been laid off, though at least one digital art specialist remains.
NFT at its peak
Christie’s became a defining player in the NFT boom with the record-breaking sale of Beeple’s *Everydays: The First 5000 Days* in 2021, which fetched USD 69.3 million That year, the NFT art market reached roughly USD 3 billion before momentum slowed.
By 2023–2024, NFT art sales had plunged by 93% from their peak, down to just USD 197 million. In the first quarter of 2025, volumes collapsed further to USD 23.8 million.
Adapting in the NFT world
During the NFT boom, Christie’s wasn’t alone. Rival Sotheby’s invested heavily in its own Metaverse space, while Christie’s launched *Christie’s 3.0* as a dedicated platform for NFT sales. Yet neither house achieved lasting success. In 2023, Sotheby’s laid off staff connected to NFTs and the Metaverse division.
Still, leading artists continue to embrace NFTs. Takashi Murakami, Marina Abramović, and Refik Anadol have all launched new NFT collections, showing that creative momentum in this space persists despite institutional retrenchment.
Keystone is needed
From my own visits to NFT and Metaverse showcases at these auction houses, it was clear that one crucial element was missing: ecosystem-level vision. Without a “keystone agent” to anchor complex, tech-driven projects, both houses struggled to sustain momentum.
You can watch my full analysis of why Christie’s shuttered its NFT department on my Facebook Live.
Story: Tae Art Man
