Christie’s debuts their own Ethereum-based NFT auction house

October 3, 2022

By Murtuza Merchant

The renowned art auction firm Christie’s is introducing its very own on-chain Ethereum NFT auction house.

The new on-chain Christie’s 3.0 platform formally emphasizes the significance of NFT art and how seriously the conventional art business is adopting web3.

Since Christie’s 3.0 is an open platform, anybody may place a bid on any item.

You must first link your digital wallet to the site to place a bid on the piece of art you want.

In addition, Diana Sinclair, a multi-talented NFT artist, provides a unique collection of nine NFT photography art pieces as part of Christie’s celebration of the opening of the new NFT auction house.

Christie’s Web3 presence is still expanding

One of the most well-known art auction houses in the world, Christie’s was established in London in 1776, more than 250 years ago.

As a result, some of the most priceless works of art ever created have been sold there; now, it wants to continue this heritage on the blockchain.

In the traditional art market, Christie’s has already had a significant impact on the emergence and acceptance of NFT art.

Christie’s sold Beeple’s “Everydays: The First 5,000 Days” artwork for $69.3 million in March 2021.

Notably, this was accomplished long before other businesses were even aware of NFTs.

The auction contributed to the popularisation of the term “NFT,” and the sale’s high price alone raised awareness of the growing digital art industry.

It is now the first international auction company to develop an NFT market.

“Christie’s 3.0 is an on-chain auction platform dedicated to exceptional NFT art. Whether you’re new to NFTs or already a committed member of the community, discover and bid on exclusive drops curated by Christie’s,” Christie’s said.

New NFT auction marketplace Christie’s 3.0

A totally decentralized, transparent experience is provided by Christie’s 3.0.

In actuality, the entire auction process happens on the open Ethereum blockchain.

The renowned art auction firm also plans to offer more resources and services for tax and compliance problems.

Speaking about the process of creating an on-chain NFT marketplace, Christie’s director of digital art sales, Nicole Sales Giles, said, “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.”

The Christie’s NFT marketplace was developed by industry professionals

Due to a collaboration with prestigious web3 businesses Manifold, Chainalysis, and Spatial, the new platform is now possible.

Chainalysis is a blockchain data analytics firm, Manifold is a startup minting platform, and Spatial is a metaverse platform.

As a result, the team has put a lot of effort into developing a decentralized, entirely on-chain NFT auction experience that rivals the splendor and luxury of the actual Christie’s art auction house.

“Christie’s 3.0 is an on-chain auction platform dedicated to exceptional NFT art. Whether you’re new to NFTs or already a committed member of the community, discover and bid on exclusive drops curated by Christie’s,” Christie’s said.

Now available is the inaugural Christie’s NFT collection

It won’t take long for NFT art collectors to experience Christie’s new NFT auction marketplace.

Christie’s 3.0 is currently operational, and to launch the market, they have selected a distinctive art collection.

Nine NFT works made expressly for the event are being offered in the first NFT auction.

Diana Sinclair, an 18-year-old art star, is the creator of the piece.

Phases, her debut solo album, is already receiving a tonne of internet attention.

The concept has a very immersive design and focuses on change.

Exclusively on Christie’s new NFT art marketplace, Christie’s 3.0, bidding begins at 4 ETH and lasts until October 11th.

About the author

Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.

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