Fine art auction house Christie’s has introduced Christie’s 3.0, a newly created platform enabling entirely on-chain NFT sales.
In a statement, the launch of Christie’s 3.0 proves Christie’s commitment to both artists and collectors in the Web3 area.
In a first for an art auction house, Christie’s debuts its on-chain marketplace just days after the Ethereum Merge’s triumph. This marketplace was designed from the ground up in collaboration with three of the top Web3 companies: Manifold, Chainalysis, and Spatial.
Auctions can now be completed entirely on the Ethereum blockchain network through Christie’s 3.0. Every transaction, even those made after the sale, will be immediately documented on the blockchain. This ground-breaking platform, the first of its type, provides the greatest degree of curation in the NFT art market and solves fundamental market needs by including compliance and taxation capabilities.
Christie’s Director of Digital Art Sales Nicole Sales Giles said Christie’s is delighted to premiere Christie’s 3.0 with Diana Sinclair’s outstanding works and is pleased to introduce its on-chain platform.
“Bringing the highest level of curation to the NFT and Digital Art market, Christie’s continues to be the venue for collectors to discover the best artworks of this emerging category. I am delighted to be able to work with such inspiring digital artists – as well as a remarkable Christie’s team – to offer the public the opportunity to collect exceptional NFTs in the way they are meant to be transacted, on-chain. 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,” Giles stated.
According to Manifold founder and CEO Eric Diep, it is an honour for Manifold to work with Christie’s to introduce a fully on-chain art marketplace.
“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,” Diep added.
Chainalysis Co-Founder and Chief Strategy Officer Jonathan Levin said NFTs are one of the most vibrant Web3 and digital art market segments, allowing artists to create a devoted following for their brands through digital ownership.
“We’re thrilled to partner with Christie’s to provide anti-money laundering technology and open up NFTs to buyers looking for the trust and safety that comes with Christie’s reputation,” Levin stated.
Co-Founder and CEO of Spatial Anand Agarawala said it is a true honour to be a part of Christie’s and Diana Sinclair’s first-ever metaverse drop.
“An auction house and artist of this caliber looking to Web3 and NFTs as the next avenue for sales, makes a big statement to the industry. We’ve enjoyed collaborating on the space with them and are looking forward to a long partnership as they embark on their digital art journey,” Agarawala added.
The inaugural sale will feature a carefully curated auction of nine NFTs designed and produced especially for Christie’s 3.0 by renowned visual artist Diana Sinclair. Bidding for Sinclair’s artwork will be accepted from 28 September to 11 October.
Sinclair is a multidisciplinary artist, activist, and curator. Her art is renowned for examining identity while promoting social justice. Sinclair was named one of Fortune’s 50 Most Influential People in NFTs in 2021.