NFT Marketplace and Christie’s Auction House Join Forces Art Sales at the OpenSea

Christie’s has partnered with OpenSea, a non-fungible token marketplace (NFTs). NFTs are digital collectibles that can be acquired with fiat or cryptocurrency and are inspired by real-life artifacts like artworks, music, and games, among others.

More individuals are jumping on the NFT collection wagon in recent days, which has resulted in a tremendous increase in the NFT space. In August, OpenSea reported a $3.4 billion (approximately Rs. 25,320 crores) selling volume in the NFT category.

This collaboration project, dubbed “Christie’s X OpenSea,” will begin in December with an on-chain auction of NFTs handpicked by Christie’s and hosted on OpenSea.

According to Christie’s, the objects offered for sale will be a combination of treasures chosen by Noah Davis, Christie’s expert and director of digital and online sales, as well as a crypto collector and curator Ronnie Pirovino.

This sale will include pieces by artists such as Andre O’Shea, Recur, Oseanworld, GMUNK, Ash Thorp, and many more.

“My aim is that this will usher in a new era for NFT sales at Christie’s, where wonderful technology can be fully utilised to help onboard even more conventional contemporary art enthusiasts to Web3,” Davis said of the initiative. The phrase “Web3” refers to the Internet’s decentralized future.

The collection will be available for viewing from December 1 to 3, with bidding taking place from December 4 to 7.

According to statistics from industry tracker, DappRadar, NFT sales volume increased by more than eightfold in the third quarter of 2021, to $10.7 billion (approximately Rs. 79,820 crores).

In recent years, Christie’s has been aggressive in selling NFT artworks at auction.

HUMAN ONE, a future artwork made by American digital artist Mike Winkelmann, better known as Beeple, was auctioned off by Christie’s in New York City earlier in November and sold for $28.9 million (approximately Rs. 215 crores).

In India, NFT art is catching on.

Bollywood stars such as Amitabh Bachchan and Salman Khan have recently entered the NFT arena by auctioning off NFTs relating to movies and their own identities.

Manish Malhotra and Dinesh Karthik, among other Indian celebrities, sold NFTs of their doodles and cricket situations.

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