The cryptoverse is not enjoying 2022. Bitcoin prices have fallen 65 percent, NFT trading volume is down 97 percent, and FTX’s implosion showed the sector is as financially dubious as it is morally bankrupt.

Hardly an ideal time, one might think, for Christie’s to really get the wheels spinning on its specialized NFT operation. The auction house, however, remains bullish, announcing its “Next Wave: The Miami Edit” sale with the peppy optimism of Spring 2021. And why not? It’s got NFT pedigree. It’s assembled some of the crypto art’s biggest names. It boasts an on-chain auction platform, Christie’s 3.0.

“Despite the news cycle of cryptocurrencies, there remains strong interest in digital art,” Nicole Sales Giles, digital art director at Christie’s, told Artnet News. “Collectors want to own the best artworks and Christie’s 3.0 is the venue.”

The auction, which will run from November 30 to December 7, is timed to coincide with Miami Art Week, an event that last year became an IRL bonanza of crypto celebration. The top lot is Mother Flock a generative project created by Random International and Danil Krivoruchko, which allows the viewer to manipulate a flock of thousands of bird-like figures. Other lots include a shot from Dave Krugman, the American photographer with a penchant for cars; Untitled by nature-focused painter and programmer Zancan; and, fittingly, City of Miami, a serenely colorful work by Cory Van Lew.

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