Christie’s goes on-chain starting the new NFT marketplace

    29 Sep 2022

    Christie’s, the British auction giant, launched on Sept. 27 its own dedicated NFT on-chain auction platform,” allowing auctions to be carried out fully on-chain on the Ethereum network. For the launch of the new platform, Christie’s is offering just one exclusive collection from multidisciplinary artist Diana Sinclair.

    Titled Christie’s 3.0, the new platform was created in partnership with blockchain data firm Chainalysis, NFT minting platform Manifold, and metaverse builder Spatial. The entire auction process, including all pre-and-post sale transactions, will be carried out on the Ethereum blockchain.

    On September 28, the platform’s inaugural sale will include nine NFTs by artist Diana Sinclair in a collection titled “Phases.” The online auction will run concurrently with a solo exhibition on view at Christie’s New York.

    “We recognize and bring young emerging artists to an international and digitally savvy market,” Christie’s stated.

    The 255-year-old auction house has been supporting the sales of NFTs since the digital asset boom in early 2021. Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS” NFT was sold by the auction house for $69.3 million in February 2021, and it began to go deeper in its NFT sales when it started selling Curio Cards, an early NFT collection, in September 2021.

    Other auction houses, like Sotheby’s, have also recently embraced NFTs and have helped to bridge the gap between fine art and digital art spaces. In October, Sotheby’s created its own NFT platform called Sotheby’s Metaverse and has released six NFT collections since its initial launch.

    Recently, New York’s Museum of Modern Art (MoMA) said it is also considering buying NFTs with some of the proceeds of an auction of William S. Paley’s art collection. MoMA has formed a team that monitors the digital art market and will consider purchasing NFTs.

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