Celebrated high-end auction house, Christie’s, has launched a fully on-chain NFT marketplace. Therefore, allowing the historic company to conduct its NFT business entirely on the Ethereum blockchain.
Dubbed Christie’s 3.0, the new venture sees the storied auctioneer partner with 3 major Web3 firms, with NFT minting platform, Manifold, data firm, Chainanalysis and metaverse specialists, Spatial, all on board. The sleek operation is designed to house the top tier of NFT-backed digital art.
Through the mighty collaboration, Christie’s can conduct its NFT business from start to finish on the Ethereum chain, with all pre and post sale transactions as well as payments conducted on the now energy-efficient network. A bespoke gallery from Spatial will also allow prospective buyers to peruse artworks within a metaverse framework.
According to the press release, 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 collaborated with NFT platform Manifold, analytics firm Chainalysis, and metaverse platform Spatial to develop the new NFT marketplace.
The launch of the marketplace is accompanied by a grand inaugural NFT sale featuring a curated auction of nine NFTs designed and minted by renowned visual artist Diana Sinclair.
Bidding for the NFTs will be made available from September 28 to October 11, 2022. “Lots are estimated at accessible price points, ranging from 4 to 8 ETH” the announcement notes.
Christie’s hopes to discover and introduce young, rising artists “to an international and digitally savvy market” through this new NFT marketplace.