They’re folding the nft department into contemporary art. But I wouldn’t say the first interpretation is invalid either.
it is the latter, they are continuing to sell digital art and NFTs and they realized their “specialists” didn't have specialized knowledge to justify a separate division
It just takes slower people longer to see the simple similarities to what they already do
regarding the catalyst for consolidating at Christie’s, the whole art market is following a similar downtrend in price and volume as the NFT market since 2022, there was an article about fine art and the contemporary market here the other day
Art is always a lagging indicator of loose monetary policy. Same time interest rates shot up.
the other interpretation is that digital art has become contemporary art
I like the latter