Renowned auction company Christie’s has launched its own NFT marketplace. Named Christie’s 3.0 and built on Ethereum, the marketplace is a fully on-chain auction platform.
Christie’s collaborated with smart contracts firm Manifold to make this project possible. In addition, blockchain analytics company Chainalasyis and metaverse platform Spatial also had a hand in providing further functionality to Christie’s 3.0.
What sets apart this NFT marketplace from other marketplaces, such as OpenSea, is that Christie’s will be curating each and every NFT on offer. Thus, Christie’s 3.0 is in line with the operating principle of its physical auction house counterpart. Currently, there is only one NFT collection available, consisting of nine NFTs designed by the artist Diana Sinclair.
Christie’s had already auctioned NFTs in the past. For instance, last year it organized a $69.3 million sale of Beeple’s artwork. However, this is the company’s first project that entirely embraces on-chain, decentralized commerce.