With the release of an exclusive collection from prominent Web 3.0 visual artist Diana Sinclair, Christie’s, the 256-year-old fine art auction house, debuts Christie’s 3.0, an Ethereum-based NFT marketplace.
The New York-based auction company made headlines in the market by selling Beeple’s “Everydays: The First 5,000 Days” artwork for US$69.3 million at auction in March 2021. However, prior NFT sales weren’t frequently carried out on-chain.
The Christie’s 3.0 marketplace, which was unveiled on Tuesday, is designed such that the entire art transaction is fully documented on the Ethereum blockchain. The auction house claims that the platform would include ground-breaking anti-money laundering, compliance, and taxes solutions.
NFTs featured on Christie’s 3.0 will be carefully picked works by well-known artists, just like Christie’s physical fine art sales. Beginning on Wednesday, the market will hold its first sale, including a selection of nine NFTs created by 18-year-old, internationally recognized artist Diana Sinclair.
In collaboration with Manifold, a startup specializing in the smart contract technology underlying NFTs, Christie’s platform was created. To enhance the possibilities of the marketplace, further partners include the blockchain analytics company Chainalysis and the metaverse platform Spatial.
“The launch of Christie’s 3.0 signifies an institutional expansion of the regulated market for digital assets, which both validates NFTs as an art form and provides incredible benefits for digital artists,” said Eric Diep, cofounder of Manifold.