Christie’s Auction House Launches NFT Platform on Ethereum

Christie’s NFT

  • Christie’s has launched its latest NFT marketplace titled Christie’s 3.0.
  • The 255 year old auction house started as a gathering place for collectors, dealers and more.
  • The company sold Beeple’s Everydays NFT collection for over 69 Million USD in March 2021.

Christie’s 3.0 to Serve as a Digital Arm

Christie’s has come a long way since its inception. The iconic auction house keeps up with the latest trends to make necessary changes required for the survival in each era. Recently, the organization has launched its new NFT platform on Ethereum blockchain dubbed Christie’s 3.0.

The company said that NFT auctions will happen on-chain entirely, stating that “Christie’s 3.0 will support the bidding on Ethereum blockchain from start to finish.” The platform was developed in collaboration with Spatial, Chainalysis and Manifold according to a Twitter announcement by the auction house. The launch includes nine NFT arts by Diana Sinclair available in the digital gallery developed by Spatial.

The auction house was founded in 1766 by Sir James Christie in London. It started as a gathering place for collectors, dealers, and fashionable society by the founder and his friends. The organization witnessed its first major sales in 1778 when the Russian empress, Catherine The Great, bought a collection by Sir Robert Walpole.

Their notable sales to this date remains Salvadore Mundi (a piece of art credited to Leonardo Da Vinci), Madame Du Barry’s jewels (1795), Sir Joshua Reynolds Studios (1974) and more. Apart from this, the auction house handled the 40 days and 17 days sales of Stowe House collection associated with the 2nd Duke of Buckingham and Chandos, and picture sales linked to Hamilton Palace respectively.

The auction house has evolved boldly with time. It dominated the NFT auctions in 2021 when it sold Beeple’s Everydays collection for over 69 Million USD in March and nine CryptoPunks for around 17 Million USD in May. They generated around 150 Million USD from NFT sales and 7.1 Billion USD from overall sales during the year.

They are not the only auction house in the game. Sotheby’s has its own marketplace titled Sothby’s Metaverse. Phillips entered the space in 2021 and marked Mad Dog Jones with the title of the most expensive living Canadian artist for his 4.1 Million USD artwork, “REPLICATOR.”