gen z art collecting continuum 2025

The Art Basel & UBS Survey of Global Collecting 2025 reveals that Gen Z collectors are reshaping the art market by treating art, sneakers, digital assets, and luxury goods as a single continuum of collectibles. Gen Z allocates 26% of their total wealth to art and collectibles—the highest of any generation—and spends 56% of that on non-traditional items like limited-edition sneakers, handbags, and digital artworks. Digital art ownership has rebounded sharply, with 23% of collectors planning to buy digital works, up from 19% in 2024, and Gen Z shows the strongest appetite for sculpture.

Artnet and Artsy Come Together Under Shared Leadership

Artnet and Artsy, two of the most influential digital platforms in the art world, have merged under a single leadership structure following a series of acquisitions by Beowolff Capital. Jeffrey Yin has been appointed CEO of the unified company, while Beowolff founder Andrew Wolff will serve as chairman. Despite the shared management, both entities will maintain their distinct branding, with Artnet focusing on market data and journalism while Artsy continues its emphasis on art discovery and e-commerce.

art dubai digital

Art Dubai became the first major art fair to launch a dedicated digital art section in 2022, inspiring similar initiatives at Paris Photo and Art SG. Now in its fourth year, Art Dubai Digital is thriving in the Gulf region, where cities like Dubai and Abu Dhabi have heavily invested in emerging technologies, including the Dubai A.I. campus, the Museum of the Future, and teamLab Phenomena. The fair has attracted tech entrepreneurs and crypto investors, and Sotheby's recent decision to accept cryptocurrency in Saudi Arabia reflects growing infrastructure for digital art transactions. However, the question remains whether digital art can appeal to traditional collectors or will remain a separate market.

Digital art is going mainstream

Digital art has achieved mainstream acceptance in the art world, ranking third in total spending among high-net-worth collectors after painting and sculpture, according to The Art Basel and UBS Survey of Global Collecting 2025. Over half of the 3,100 respondents purchased a digital artwork in 2024 or 2025, and the average share of digital art in collections rose from 3% in 2024 to 13% in 2025, signaling a maturation beyond the NFT boom of 2022. Art Basel is launching a new section called Zero 10 at Miami Beach 2025, featuring 12 exhibitors including AOTM, bitforms gallery, and Pace Gallery, with an interactive installation by Beeple. Major museums like MoMA, Tate Modern, and Centre Pompidou have hosted significant digital art exhibitions, further boosting collector confidence.

Fair Warning Expands With Saara Pritchard, Doubling Down on ‘Conviction’ in a Crowded Art Market

Loïc Gouzer’s boutique auction app, Fair Warning, is expanding its leadership by appointing Saara Pritchard, a veteran specialist from Christie’s and Sotheby’s, as a partner. Since its 2020 launch, the platform has carved out a niche by rejecting the high-volume model of traditional auction houses in favor of a highly curated, "one work at a time" approach. This strategy has proven lucrative, recently achieving a record $16.7 million for an Andy Warhol portrait and a $4.07 million record for Elizabeth Peyton.

nifty gateway closed down

Nifty Gateway, an early NFT marketplace founded in 2018 and acquired by Gemini, will shut down on February 23 after entering withdrawal-only mode. The platform, which once reported $300 million in gross merchandise value in 2021 and partnered with Sotheby's for a $17 million NFT drop, is closing amid a sharp decline in NFT trading activity. Users must withdraw their assets by the deadline, after which they can no longer list, buy, or sell NFTs on the site.

christies reportedly closes digital art department

Christie's is closing its digital art department and has parted ways with Nicole Sales Giles, the auction house's vice president of digital. The decision comes over four years after Christie's record-breaking $69.3 million sale of Beeple's "Everydays: The First 5000 Days" (2021), which ignited the NFT boom. Christie's stated it will continue selling digital art within its broader 20th- and 21st-century art category.

Foundation, a Prominent NFT Platform of the 2021 Boom, Shuts Down After Failed Sale

Foundation, a prominent Ethereum-based NFT marketplace that launched during the 2021 digital art boom, has announced it will shut down following a failed acquisition by the digital art company Blackdove. CEO Kayvon Tehranian confirmed that the platform has entered a one-year wind-down phase, urging users to migrate their assets as no other viable buyers exist in the current market. The closure follows the collapse of a deal that was intended to provide long-term stewardship for the platform, which had facilitated over $230 million in sales since its inception.

Beowolff Combines Artsy and Artnet in Digital Art Market Push

Beowolff Capital has consolidated two of the art world’s digital giants, Artsy and Artnet, under a single ownership structure. While both platforms will maintain their distinct brand identities, they will begin integrating their underlying infrastructure and data systems. Jeffrey Yin, the current leader of Artsy, will take the helm as CEO of the combined entity, with Beowolff founder Andrew Wolff serving as chairman.

Comment | 'Artnet-Artsy merger: a Bloomberg for art?'

Artnet and Artsy have officially merged under private equity firm Beowolff Capital, founded by former Goldman Sachs trader Andrew Wolff. The deal, which took Artnet private, has already led to layoffs at both companies—including at least seven staff members from Artnet News—and the closure of Artnet's Berlin office. Jeffrey Yin, CEO of Artsy, will lead the combined entity. The merger aims to combine Artnet's vast database of 18 million auction results with Artsy's primary market gallery network to create a seamless user experience for discovering, researching, and buying art.

andrew wolff artnet artsy future

Andrew Wolff, CEO of Beowolff Capital, has acquired Artnet and a controlling stake in Artsy, positioning himself as a key consolidator in the digital art market. In an interview tied to his inclusion in the Observer's “Art Power Index,” Wolff outlined plans to integrate data across platforms, develop AI-native tools, and create a seamless ecosystem for discovery, valuation, and transaction, aiming to empower younger collectors who favor networked, permissionless access over traditional gatekeepers.

art basel ubs report women and gen z

The Art Basel & UBS Survey of Global Collecting 2025, authored by Clare McAndrew, surveyed 3,100 high-net-worth collectors across ten markets. It reveals that nearly three-quarters of respondents are Gen Z or Millennials, with Gen Z collectors allocating an average of 26% of their wealth to art—the highest of any age group. Female collectors outspent men by 46% in 2024 and the first half of 2025, and 51% of collectors purchased digital artworks. Direct purchases from artists surged to 63%, up from 27% two years earlier, with 35% buying via Instagram links.

beowolff capital artnet takeover

Investment group Beowolff Capital has announced a voluntary takeover offer for Artnet, valuing the company at approximately €65 million ($73.7 million). Beowolff Capital, a U.K.-registered firm led by CEO Andrew Wolff, has already secured 65% of Artnet's shares and plans to delist the company from the Frankfurt Stock Exchange. The deal includes the purchase of a 29.99% stake from Weng Fine Art AG, ending a long-running control struggle. Artnet's management supports the offer, which is expected to close on May 30, 2025.

Artnet and Artsy Announce They’re ‘Joining Forces’ Under Shared Leadership

Artnet and Artsy have announced a strategic merger under a single leadership structure following their acquisition by Beowolff Capital. While both platforms will maintain their distinct brand identities and websites, they will now operate as a combined organization led by Artsy CEO Jeffrey Yin, with Beowolff Capital founder Andrew Wolff serving as chairman. The move aims to integrate Artnet’s industry-leading price database and journalism with Artsy’s expansive e-commerce and discovery marketplace.

AstaGuru: An Eminent Digital Auction for the Elite

AstaGuru, an Indian online auction house founded in 2008, has established itself as a leading digital platform for modern and contemporary art, antiques, sports memorabilia, fine silverware, and writing instruments. The company achieved a world record with a ₹17.75 crore bid for a Tyeb Mehta painting in 2017 and boasts a 93% lot sale ratio, auctioning works by notable artists such as Ramkinkar Baij, Krishen Khanna, and Nandalal Bose. Led by directors Tushar Sethi and Vickram Sethi, the platform offers secure bidding, physical previews in Mumbai, and services including consultation, restoration, and valuation.

Artnet et Artsy amorcent leur intégration

Artnet and Artsy, both acquired in 2025 by British fund Beowolff Capital, are beginning their integration under a shared management structure while maintaining separate brands and websites. The reorganization has already involved job cuts and aims to more closely align market data, online visibility, and transactions amid a fragile online art sales environment.

The Rapprochement Between Artnet and Artsy Takes Shape

Le rapprochement entre Artnet et Artsy prend corps

Artnet and Artsy, two major online art market platforms, have announced a strategic merger under the common ownership of British investment fund Beowolff Capital. The companies will retain their distinct brands and websites but will be led by a unified management team, with Artsy's CEO Jeffrey Yin taking the helm. The consolidation has already resulted in dozens of job cuts, particularly at Artnet News, and follows a period of economic strain for Artnet, which reported a 12% revenue drop in the first half of 2025.

nifty gateway nft platform shutters

Nifty Gateway, one of the earliest and most prominent NFT marketplaces, announced it will shut down on February 23, 2026, citing sharply declining activity. The platform, founded in 2018 by twins Duncan and Griffin Cock Foster and acquired by Gemini in 2019, has entered withdrawal-only mode, advising users to move their assets before the deadline. At its peak in 2021, Nifty Gateway reported $300 million in gross merchandise value, boosted by a Sotheby's partnership for a $17 million NFT drop by the artist Pak. The closure follows the collapse of the NFT boom, with trading volumes plummeting and other platforms like Async Art, KnownOrigin, and MakersPlace already shuttered.

Capitolium Art: Modern & Contemporary Art - Selected (Traditional)

Capitolium Art has announced its upcoming "Modern & Contemporary Art - Selected" auction, scheduled to run from April 1st to April 15th, 2026. The sale, hosted in partnership with Artsy, features a curated selection of traditional modern and contemporary works subject to a 26% buyer’s premium plus an additional 5% platform fee for online bidders. The terms outline specific logistical requirements, including a 10-day payment and collection window and the application of Italian Artist’s Resale Right (Droit de Suite) fees.