Christie's announces its first auction of NFTs only in Ethers (ETH)

Christie’s to sell Art Blocks Curated NFTs

Christie’s, the London-based auction house of Artémis Holding, has announced the sale of a series of non-fungible tokens (NFTs) called Art Blocks Curated: Sets 1-3. The digital works will be offered on October 1 as part of a general auction called ” From Post-War to Today”.

“Bidding for this lot will take place live in ETH, a first for a leading auction house,” Christie’s boasted in a tweet.

For the first time, Ether (ETH) will therefore be the only payment method accepted. Those wishing to participate in the sale will need a wallet on the Ethereum blockchain. This is the first time that Christie’s, or any other house is completely setting aside fiat.

On the other hand, it is not uncommon for cryptocurrencies, including Ether (ETH) or Bitcoin (BTC), to be accepted as payment at auctions. Digital currencies are usually offered as alternatives to fiat currencies, such as the euro or the dollar. This was notably the case in the CryptoPunks auction.

Also read – Why did the NFT “Doge” just split into 17 billion ERC-20 tokens?

Christie’s auction house confirms its interest in NFTs and cryptocurrencies

With this new auction, the London-based firm confirms its growing interest in the NFTs sector. In recent months, Christie’s has held several sales of non-fungible tokens. At the beginning of March, the British firm even participated in the sale of the world’s most expensive NFT. It also sold 5 NFTs of Andy Warhol works last May.

Christie’s is not the only auction house in the art world to turn to NFTs. Sotheby’s, a British auction house bbased in New York, organized the sale of the source code of the World Wide Web with its creator, Tim Berners-Lee, a few months ago.

Art Blocks Curated is a platform dedicated to digital works generated randomly by software. This content is produced on demand according to the tastes of buyers and stored on the Ethereum blockchain. On its official website, the platform explains:

“You choose a style you like, pay for that work and a randomly generated version of the content is created by an algorithm and sent to your Ethereum wallet. The resulting piece can be a static image, a 3D model or an interactive experience. The work is minted/generated/created on demand, so you don’t actually know what the specific coin you get will look like!”

Related – How can blockchain revolutionize the art market?

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About the author : Florian Bayard

Christie's announces its first auction of NFTs only in Ethers (ETH)