Christie’s, the 256-year-old British auction house, has launched an online auction platform for Non-Fungible Tokens (NFTs). The platform will allow all NFT auctions to be conducted end-to-end on the Ethereum network. The platform is being called ‘Christie’s 3.0’. NFT minting firm Manifold.xyz, crypto research firm Chainalysis and metaverse firm Statial teamed up to create Christie’s 3.0. Christie’s has been active in the NFT space for some time and has held a bunch of NFT auctions in recent times.
For every auction held on this platform, all transactions will be automatically recorded on the Ethereum blockchain.
“We recognize young emerging artists and bring them to an international and digitally savvy market. Christie’s 3.0 further enhances our ability to connect consumers with the best in the NFT market, now through a sophisticated and secure blockchain-native platform,” the auction house said in a statement.
Christie’s, looking to celebrate the launch of this new platform, has listed nine NFTs created by visual artist Diana Sinclair as the inaugural digital collectibles for auction.
In November 2021, the auction house partnered with OpenSea NFT Marketplace to facilitate the sale of digital collectibles.
At the same time, Christie’s held an auction of HUMAN ONE, a futuristic artwork created by American digital artist Mike Winkelman, also known as Beeple.
Last year, Christie’s also held auctions for some of the oldest NFTs ever and held live bidding in Ether (ETH) crypto tokens.
The NFT market will be worth $231 billion (roughly Rs. 18,41,300 crore) by 2030 and believes it is too big a business to ignore, Tarusha Mittal, COO and Co-Founder, Uniform, in a conversation with Gadgets 360. UniFarm is a multi-token reward program.
NFTs are proving to be a profitable business tool even for many big brands.
A total of $260 million (approx. Rs. 2,074 crore) has been collectively earned by high-end luxury brands including Nike, Gucci, Dolce and Gabbana from the sale of their NFT shares.
