Christie’s Auction House Announces On-Chain NFT Art Platform

Christie’s 3.0 has teamed up with Chainalysis, Manifold, and Spatial to sell NFT artwork on Ethereum. The inaugural sale features artist Diana Sinclair.

AccessTimeIconSep 27, 2022 at 7:49 p.m. UTC
Updated May 11, 2023 at 4:18 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Luxury auction house Christie’s is launching an on-chain platform for non-fungible token (NFT) art, becoming the first global auction to facilitate fully on-chain sales.

The new platform, called Christie's 3.0, was created in partnership with blockchain data firm Chainalysis, NFT minting platform Manifold and metaverse builder Spatial. The entire auction process, including all pre-and-post sale transactions, will be carried out on the Ethereum blockchain.

The platform’s inaugural sale will take place on September 28 and will include nine NFTs by artist Diana Sinclair in a collection titled "Phases." The online auction will run concurrently with a solo exhibition on view at Christie’s New York. “We recognize and bring young emerging artists to an international and digitally savvy market,” Christie’s said in a statement.

Nicole Sales Giles, Christie’s director of digital art sales, noted the significance of moving the entire auction process 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.”

bts-composite-2400.jpeg

The 255-year-old auction house has been supporting the sales of NFTs since the digital asset boom in early 2021. Beeple’s "EVERYDAYS: THE FIRST 5000 DAYS" NFT was sold by the auction house for $69.3 million in February 2021, and it began to go deeper in its NFT sales when it started selling Curio Cards, an early NFT collection, in September 2021.

Other auction houses, including Sothebys, have also recently embraced NFTs and have helped to bridge the gap between fine art and digital art spaces. In October, Sotheby’s created its own NFT platform called Sotheby’s Metaverse and has released six NFT collections since its initial launch.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.