Christie's 3.0: Revolutionary Platform Established Christie's as First Global Auction House to Host Fully On-Chain Sales
Revolutionary Platform Establishes Christie’s as First Global Auction House to Host Fully On-Chain Sales
I want to Nuture the Earth
NEW YORK – Tuesday, September 27, 2022 Christie’s is pleased to announce Christie’s 3.0, a newly developed platform that will allow for fully on-chain NFT sales, demonstrating the auction house’s commitment to both artists and collectors in the Web3 space. Just days following the success of the Ethereum Merge, Christie's – in a first for an art auction house – launches its own on-chain marketplace, built from the ground up together with three leading companies in the Web3 community, Manifold, Chainalysis, and Spatial.
Christie’s 3.0 allows for auctions to be carried out on the Ethereum blockchain network from start to finish. All transactions, including post-sale, will be automatically recorded on the blockchain. In addition to offering the highest level of curation in the NFT art market, this innovative platform addresses fundamental needs of the market by including compliance and taxation tools, making it the first of its kind.
Nicole Sales Giles, Christie’s Director of Digital Art Sales, remarks, “We are thrilled to launch our on-chain platform – and particularly excited to be debuting Christie’s 3.0 with the phenomenal works from Diana Sinclair. 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.”
"Manifold is honoured to partner with Christie's to launch a fully on-chain art marketplace," says Eric Diep, founder and CEO of Manifold. "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."
"NFTs are one of the most dynamic areas of both Web3 and the digital art market, providing opportunities for artists to build an engaged community around their brands through digital ownership," said Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis. "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."
“To be supporting Christie’s and Diana Sinclair on their first ever metaverse drop is a real honor,” said Anand Agarawala, Co-founder and CEO of Spatial. “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.”
Christie’s 3.0 Inaugural Sale
The inaugural sale will be a highly curated auction of nine NFTs by celebrated visual artist Diana Sinclair, created and minted specifically to launch Christie’s 3.0. The auction of Diana’s work will be open for bidding from September 28 – October 11, 2022.
Sinclair is an 18-year-old multidisciplinary artist, activist, and curator. Her work is known for simultaneously exploring identity and championing social justice. In 2021, Sinclair was selected by Fortune as One of the 50 Most Influential People in NFTs. As a young person surrounded by tech, Sinclair believes that the next renaissance will grow from the intersection of art and technology. She is passionate about creating work that embraces this evolution, and the eight works on offer in Christie’s 3.0 inaugural auction are a reflection of this. Lots are estimated at accessible price points, ranging from 4 to 8 ETH.
A pioneer in technology, Christie’s has a proven track record of leading the art market in technological and digital innovation, most recently with the launch of Christie’s Ventures in July 2022 in advance of the company’s fifth Art+Tech Summit, a two-day conference attended by leaders across the industry held in New York City. Christie’s 3.0 marks a first for a leading auction house and yet another example of the historic company’s commitment to advancement in this space. With this brand-driven forum, Christie’s aims to recognize and bring young emerging artists to an international and digitally savvy market. This initiative deepens Christie’s ability to connect clients to the best of the NFT market—beyond traditional auction channels, beyond partnerships with other marketplaces— now via a sophisticated and secure blockchain-native platform for sales.
Founded in 1766, Christie’s is a world-leading art and luxury business with a physical presence in 46 countries throughout the Americas, Europe, Middle East, and Asia Pacific, and flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva. Renowned and trusted for our expert live and online-only auctions, as well as bespoke Private Sales, Christie’s unparalleled network of specialists offers our clients a full portfolio of global services, including art appraisal, art financing, international real estate and education. Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $500 to over $100 million. Christie’s has sold 8 of the 10 most important single-owner collections in history, achieved the world record price for an artwork at auction, launched the first fully on-chain auction platform dedicated to exceptional NFT art and manages an investment fund to support innovative startups in the art market. Christie’s is also committed to advancing responsible culture throughout its business and communities worldwide. To learn more, browse, bid, discover, and join us for the best of art and luxury at christies.com or by downloading Christie’s apps.
* Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue. *Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium.