The whole NFT craze was embarrassing and very revealing about what powers a lot of people's belief in crypto.

Everyone who was trading monkey JPEGs has moved on to claiming that they can replace your staff with an LLM.

Except for a16z who are multi-track-grifting with both at the same time, and trying to find ways to put crypto in AI, or AI in crypto, or something.

Can you expand on this? I see this brought up a lot but if they don’t return capital they’ll have to shut down?

Probably not hard to return the fund when Coinbase is in their portfolio.

Hope they backed up the seed phrase for the Art Department before deleting it.

> The company will continue to sell digital art within the larger 20th and 21st Century Art category

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