Home Cryptocurrency Christie's Auction House Joins Forces with NFT Marketplace OpenSea For Art Sales

Christie’s Auction House Joins Forces with NFT Marketplace OpenSea For Art Sales


Auction house Christie’s has entered into a partnership with OpenSea, which is a marketplace for non-fungible tokens (NFTs). Inspired by real-life objects like artworks, songs, and games among others, NFTs are digital collectibles that are purchased using fiat or cryptocurrencies. In recent days, the NFT space has witnessed a major boom with more people hopping on the NFT collection wagon. In August, OpenSea recorded sale’s volume worth $3.4 billion (roughly Rs. 25,320 crore) in the NFT category.

Called “Christie’s X OpenSea,” this collaborative effort will kick off in December with the on-chain auction of NFTs curated by Christie’s and hosted on OpenSea.

The pieces that will be up for sale is a mix of collectibles handpicked by Christie’s specialist and head of digital and online sales, Noah Davis as well as crypto collector and curator Ronnie Pirovino among others, as per the information given by Christie’s.

Artworks from artists like Andre O’Shea, Recur, Oseanworld, GMUNK, Ash Thorp and a host of others will be featured in this sale.

“My hope is that this will be the beginning of a new era for NFT sales at Christie’s, where amazing technology can be deployed to its full potential and facilitate the on-boarding of even more traditional contemporary art collectors to Web3,” said Davis, commenting on the project. Web3 is a term which refers to the decentralised future of Internet as we know it.

The collection will open for browsing from December 1 to December 3 while the biddings will be open from December 4 to December 7.

In the third quarter of 2021, NFT sales volume surged to $10.7 billion (roughly Rs. 79,820 crores), up by over eightfold from the previous quarter, according to data from market tracker DappRadar.

Christie’s has been going bullish with auctioning off NFT artworks in recent times.

Earlier in November, Christie’s auctioned off HUMAN ONE, a futuristic artwork created by American digital artist Mike Winkelmann, better known as Beeple, sold for $28.9 million (roughly Rs. 215 crore) in New York City

NFT art is also gaining steam in India.

Recently, Bollywood stars like Amitabh Bachchan and Salman Khan forayed into the NFT space with auctioning off NFTs related to cinema and their identities.

Other Indian celebrities including Manish Malhotra and Dinesh Karthik also sold off NFTs of their sketches and cricket moments.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.



Source link

RELATED ARTICLES

Indian Crypto Investor Paid $69.3 Million For An NFT. Then He Did This

<!-- -->Vignesh Sundaresan spent $69.3 million on a Beeple non-fungible tokenVignesh Sundaresan, also known as MetaKovan, spent $69.3 million on a Beeple non-fungible...

Jailed Dark Web Marketplace Founder Ross Ulbricht to Auction NFT Artwork, Proceeds to Fund His Release Efforts

Ross Ulbricht, the imprisoned founder of the now defunct dark Web marketplace called “Silk Road” has decided to auction some of his artwork...

Chinese Cybersecurity Company Qihoo 360 Develops Crypto Mining Monitor for Government Agencies

China's crackdown on cryptocurrency mining has been swift and heavy-handed over the past few months and the government has decided to leave no...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Sensex, Nifty Surge On Strong September Quarter Economic Growth Data

<!-- -->The Indian equity benchmarks ended higher on Wednesday as investor sentiment got a boost from strong Gross Domestic Product (GDP) data that...

Investing Platform ‘Upstox’ Allows IPO Application Via WhatsApp

<!-- -->Upstox said it aims to achieve a five-fold growth in IPO applications.New Delhi: Investing platform Upstox on Wednesday announced that it will...

Low Vaccine Cover, Low Testing Rates “Toxic Mix”, Says WHO

<!-- -->WHO warned a "toxic mix" at the global level of low vaccination coverage. (File)Geneva: The World Health Organization on Wednesday warned a...

Power Demand Growth Slows In November, Helping Ease Coal Shortage

<!-- -->The country's electricity demand grew 2.2 per cent in November, slower than the 4.1 per cent increase in October, a Reuters analysis...

Recent Comments