- Christie’s 3.0 is a brand-new on-chain Ethereum NFT marketplace that has just been released by Christie’s.
- The design of Christie’s 3.0 ensures that every transaction is completely documented on the Ethereum blockchain.
- A notable NFT auction that brought in $69.3 million was previously held at the auction house.
Christie’s dedicated NFT “on-chain auction platform” enables auctions to be conducted entirely on-chain on the Ethereum network following a number of profitable high-priced nonfungible token (NFT) sales.
The inaugural sale is a highly curated auction of 9 new NFTs by celebrated visual artist @dianasinclair, created & minted specifically to launch Christie’s 3.0.— Christie's (@ChristiesInc) September 27, 2022
The auction of Diana’s work will be open for bidding from 28 Sept –11 Oct. Stay tuned for more updates! (4/4) pic.twitter.com/z2FAY1ciPv
The marketplace for Christie’s 3.0 is designed so that all transactions are fully documented on the Ethereum blockchain. In addition, the 256-year-old auction house claims to offer additional compliance and tax-related solutions.
The introduction of Christie’s marketplace enables transactions to happen in a method similar to the well-known marketplace OpenSea, enabling payments to be made in Ether. In its previous NFT auctions, the successful bidder’s payments were not necessarily made on a blockchain (ETH).
According to Christie’s, the new market was created in collaboration with the startup for NFT smart contract development Manifold, the metaverse development firm Spatial, as well as the blockchain analyst firm Chainalysis.
The announcement was made in conjunction with the launch of Diana Sinclair’s one and only project for the new market, which included just nine NFTs and was exclusively available online in a virtual gallery created by Spatial.
In the NFT market, Christie’s has already made a significant impact; For example, Beeple’s “Everyday’s – The First 5000 Days,” which was created expressly for Christie’s and sold for a record $69.3 million in March 2021, is one of the most expensive NFTs ever sold. In addition, Christie’s has had great success with NFT auctions in the past.
The NFT was initially sold in collaboration with the MakersPlace NFT marketplace.
In May 2021, nine CryptoPunks were auctioned off, and the firm organized the sale; the winning bid was close to $17 million.