Christie’s, the renowned global auction house, has launched Christie’s 3.0: its new Web3 platform dedicated to fully on-chain NFT sales.
Christie’s 3.0: the new Auction House hosting the NFT sale
Global art auction house, Christie’s, has not resisted the allure of Non-Fungible Tokens (NFTs) and has launched its dedicated Christie’s 3.0 platform.
The first ever global auction house to host fully on-chain sales: introducing Christie’s 3.0
Built from the ground up together with three leading companies in the Web3 community @manifoldxyz , @chainalysis & @spatialxr. (1/4)https://t.co/3zcQxNtBLy
— Christie's (@ChristiesInc) September 27, 2022
“The first ever global auction house to host fully on-chain sales: introducing Christie’s 3.0. Built from the ground up together with three leading companies in the Web3 community @manifoldxyz, @chainalysis & @spatialxr.”
Christie’s 3.0 is the result of a collaboration with three leading companies in the Web3 community, Manifold, Chainalysis and Spatial.
The new platform has chosen the Ethereum blockchain, just days after the successful Merge that took the second-largest crypto by market capitalization from Proof-of-Work to Proof-of-Stake.
Auctions will thus take place on the Ethereum blockchain network from start to finish. All transactions, including those after the sale, will be automatically recorded on the blockchain. Not only that, Christie’s 3.0 addresses the fundamental needs of the market by including compliance and taxation tools, making it the first of its kind.
Christie’s 3.0 and the inaugural sale with 9 NFTs by Diana Sinclair
Christie’s 3.0 has decided to proceed with an inaugural sale featuring 9 new NFTs by renowned visual artist Diana Sinclair created and minted especially for the launch of the platform.
The auction of Sinclair’s works will be open from 28 September to 11 October. Not only that, Sinclair has been selected by Fortune as one of the 50 most influential people in the NFT world.
In this regard, Nicole Sales Giles, Director of Digital Art Sales at Christie’s, said:
“We are thrilled to launch our on-chain platform – and particularly excited to be debuting Christie’s 3.0 with the phenomenal works from Diana Sinclair. Bringing the highest level of curation to the NFT and Digital Art market, Christie’s continues to be the venue for collectors to discover the best artworks of this emerging category.
I am delighted to be able to work with such inspiring digital artists – as well as a remarkable Christie’s team – to offer the public the opportunity to collect exceptional NFTs in the way they are meant to be transacted, on-chain. By incorporating regulatory tools, such as anti-money laundering and sales tax, we have built an inclusive solution where both veteran and new NFT collectors can feel secure in transacting with Christie’s 3.0.”
Christie’s Ventures: the investment fund backing digital art tech companies
In July 2022, Christie’s had announced that it had launched its Ventures version, a new investment fund with the goal of supporting emerging tech companies operating in the digital art market.
Already with Christie’s Ventures, the auction house wanted to focus on Web3.0 and thus on NFTs, Crypto, and Blockchain in general, as well as art-related financial products and technologies that enable seamless consumption of art.
Certainly, the world’s leading art and luxury company had a good look at the NFT sector. And in fact, it was one of the first to realize the impact NFTs would have on the art market, quickly organizing NFT sales that have gone down in history.
Such as the record $69.3 million sale in March 2021 of the artwork Everydays: The First 5000 Days,” by digital artist Beeple.