NFT Market Revival: Sotheby's $11M Auction and Record-Breaking Sales
Digital artists and collectors, including Beeple, responded sarcastically to an ARTnews article suggesting that the recent Sotheby's auction marked a possible "final hurrah" for the NFT market. Beeple tweeted, "please delete all remaining jpegs by 5pm EST today," alluding to NFT art detractors who consider the market a profit-focused passing fad. However, digital art advocates emphasized the nuance and craftsmanship uniquely facilitated by generative, blockchain-backed art. Despite the ongoing crypto winter's negative impact on median NFT prices, 2022 ultimately saw about the same overall NFT trading volume as the year prior: around $25 billion.