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NFT prices are plummeting. What could this mean for the art world? Written by Anny Shaw This article was originally published by The Art Newspaper, an editorial partner of CNN Style. Scam, pyramid scheme and tech speculation bubble -- such have been the more cynical responses to the meteoric rise of the NFT (non-fungible token) market. So has the boom gone bust already? Perhaps, according to recent figures published by Nonfungible.com, which show that the average price of NFTs plummeted almost 70% from a peak of around $4,000 in mid-February to around $1,400 last week. Since Bloomberg first r...

Christie's Post-War and Contemporary Week totals $98,323,250 Keith Haring (1958-1990), Untitled. Vinyl paint on vinyl tarpaulin with metal grommets. 73 x 73 in. (185.4 x 185.4 cm.). Painted in 1983. Price realized: $3,000,000. © Christie's Images Ltd 2021. NEW YORK, NY .-Christie’s kicked off the week of Post-War and Contemporary Art Sales in New York with a live Post-War to Present auction, which totaled $23,087,875, selling 86% by lot, 92% by value and 123% hammer over low estimate. The top lot of the sale was Keith Haring’s Untitled, which achieved $3,000,000, followed by Matthew Wong’...

Christie’s £50m NFT Milestone Digital Art Collecting Comes Of Age Update: Metakovan, the founder of ‘crypto-exclusive fund’ Metapurse, has been identified as the buyer of Beeple’s $69.3m. NFTDigital art has an established history dating back to the 1960s. But the ease of duplication traditionally made it near-impossible to assign provenance and value to the medium. On March 11, 2021, Christie’s concluded its single lot online sale of Beeple’s Everydays: The First 5000 Days, achieving $69,346,250 and setting the third-highest price a living artist at auction in a watershed moment ...

Christie's Post-War and Contemporary Art Sale Week kicks off with Post-War to Present Elaine de Kooning (1919-1989), Red Bison/Blue Horse. Oil and charcoal on canvas. Painted in 1985-1986. Estimate: $250,000 - 350,000. Price Realized: $562,500. © Christie's Images Ltd 2021. NEW YORK, NY .-Christie’s kicked off the week of Post-War and Contemporary Art Sales in New York with a live Post-War to Present auction, which totaled $23,087,875, selling 86% by lot, 92% by value and 123% hammer over low estimate. The top lot of the sale was Keith Haring’s Untitled, which achieved $3,000,000, followed...

Christie's is auctioning its first 'purely digital' artwork for millions of dollars this week, shining a spotlight on non-fungible tokens, or NFTs. Could this blockchain-based technology transform how we buy, sell and value art?