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New On-Chain Ethereum NFT Marketplace Called Christie’s 3.0 Is Now Officially Launched

Christie has launched Christie’s 3.0 as its NFT. The 256-year-old auction house is committed to promoting artists and collections. The company has offices in London, and New York and is working on the NFT marketplace to allow for the sale of NFTs on-chain. Christie 3.0 is therefore creating unprecedented opportunities for both the artists and art collectors on Web 3 space.

Christie’s 3.0 is an Ethereum-based NFT marketplace that will carry its activities on the Ethereum blockchain network. This will make it easier for art lovers to carry out all their transactions on the Ethereum blockchain network. Among the things it will do include recording all post-sale activities on the network to make the transactions transparent. According to the Auction house, recording the post-sales activities on the network will make it hard for criminals to engage in money laundering activities.

Christie’s Origin

Christie is a popular auction house in the UK. It is a high-end auction space entrenched in NFT and crypto world and is quickly finding its place in the digital world. The auction house has played host to high-profile NFT auctions such as Beeple’s artwork. It is now diversifying to NFTs because they are becoming popular among artists, investors, and gaming companies. Therefore, the company expects to play a vital role in the gaming and art industry. However, it will only associate itself with collectibles, artwork, and pictures. So by launching them on the Ethereum block Chain network, users can resale and profit from their work.

It is worth noting that in 2021, the auction house made a name for itself by auctioning the first 500 artworks for USD 69.3 million. Unfortunately, it did not make the auction sale on NFT. So it decided to start a venture that would allow future auctions to be made on NFT.

Through NFTs, Christie hopes to allow the public to collect exceptional artwork and transact them on the blockchain. To make its dream come true, the house is partnering with Manifold- a company behind NFTs but focusing on smart contract technology.

Launching Was A Success

The other companies Christie’s is partnering with include the Metaverse platform Spatial and Chainalysis. Indeed, the launch of Christie 3.0 is a major milestone signifying institutional expansion of the digital market. The move will validate NFTs in the art industry while benefiting digital artists.

Unfortunately, despite validating NFTs, Christie’s 3.0 will only display artwork from selected artists. Already, the platform is displaying Diana Sinclair’s artwork. Diana is a renowned artist who has received numerous international rewards for her artwork.

But before displaying Diana’s art and embracing the web3, the house auctioned Beeple’s artwork at $69.3 million. So by launching Christie3.0, it will make it easier to record transactions on the Ethereum blockchain. It will help to curve a niche for itself in the NFT world.

Further, the auction house plans to provide tax compliance tools to its users. Another key point it now plans to conduct all its actions on-chain. This will enhance transparency concerning the wallets involved and payments made. The auction house says that it plans to operate like Rarible and OpenSea.

Note that even though Christie will give artists a chance to auction their artwork on the Ethereum blockchain, it emphasizes curation. This implies that it will not allow every Tom Dick and harry to list their collectibles and artwork on the network. However, it will offer collections from multidisciplinary artists and Diana Sinclair.

Final Thoughts

Of course, Christie will partner with other companies to enable the public to collect artwork and transact them on-chain. The company is motivated by selling Beeple’s work for $69million even though it did not do so on-chain. So it has been dolling with the idea of starting its on-chain venture. Therefore, launching Christie’s 3.0 has demonstrated that it is committed to building its investments in blockchains, cryptocurrencies, and non-fungible tokens. This will enhance the consumption of art and promote artists.

 

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