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 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.