Christie’s, the renowned UK auction house, is reportedly closing its dedicated non-fungible token (NFT) department, integrating it into a broader 20th and 21st-century art category. This strategic move comes as the global art market faces a downturn, with sales dropping 12% in 2024 to $57 billion, according to the Art Basel & UBS Art Market Report 2025. Despite the closure, Christie’s will continue to sell digital art, including NFTs, within its existing art categories. The decision also led to the layoff of two employees, including the vice president of digital art, while retaining at least one digital art specialist. Christie’s has been a significant player in the NFT space, famously auctioning Beeple’s "Everydays: The First 5000 Days" for $69.3 million in 2021. The move has sparked discussions about the sustainability of Christie’s business model in the digital art sector, with some suggesting it reflects broader market challenges rather than a decline in demand for digital art.