NFTs drive sales of contemporary art to record £2.7bn
Contemporary art auctions rebounded to an all-time high of $2.7bn over the past year, boosted by online sales and the arrival of digital art in the form of “NFTs”, according to an annual report by Artprice. Having seen sales collapse by a third in the previous year because of the initial crisis caused by the pandemic, sales soared between June 2020 and June 2021 as auctioneers quickly adopted a more online approach. https://www.theguardian.com/artanddesign/2021/oct/04/nfts-drive-sales-of-contemporary-art-to-record-27bn