More than $100 million worth of non-fungible tokens (NFTs) were stolen in the 12 months ended in July, blockchain research firm Elliptic reported on Aug. 24. That worked out to an average of $300,000 per theft. Its report, “NFTs and Financial Crime: Money Laundering, Market...
Are NFTs really going mainstream, or are the one-of-a-kind cryptocurrency tokens that transport and display pictures, videos and music just a way to get gamers and metaverse-believers to buy pictures of name brands at a markup to the real thing? Well, let’s look at some...
Retailers are exploring new ways to join forces, and closed stores are creating new opportunities across the retail landscape. Plus, omnichannel approaches and nonfungible tokens (NFTs) were the big winners at auction houses in 2021. Data: 5M: Amount Target paid to open new store in...
The year was 1744. The place? London. Here, Sotheby’s had its very first auction where a few hundred rare and valuable books of Polite Literature sold for a little over 800 pounds. Fast forward to today and auction houses like Sotheby’s and Christie’s are simply...
December 15, 2021
Sotheby’s has sold $7.3 billion in art sales this year, a new high for the 277-year-old company, The Wall Street Journal (WSJ) reported Wednesday (Dec. 15). The WSJ attributes this high to millennials’ spending, as the generation spent big on everything from designer watches to digital art. The $7.3 billion breaks down into $6 billion […]
November 16, 2021
One of 13 rare, first-edition copies of the U.S. Constitution is being auctioned by Sotheby’s on Thursday (Nov. 18) and a group of cryptocurrency investors — a decentralized autonomous organization...
November 08, 2021
Non-fungible tokens (NFTs) have taken off in 2021 and so have auction houses’ sales of them, with Sotheby’s and Christie’s respectively selling $65 million and $100 million of NFTs this...
May 05, 2021
In a partnership with Coinbase, art marketplace Sotheby’s now accepts bitcoin and ethereum payments for art, beginning with Banksy’s Love is in the Air picture. The picture will be auctioned...
