Auction house Christie’s has partnered with OpenSea, a marketplace for non-fungible tokens (NFTs). Inspired by real-life objects such as artwork, songs, and games among others, NFTs are digital collectibles purchased with fiat or cryptocurrency. In recent days, the NFT space has seen a huge boom with many people jumping on the NFT collection wagon. In August, OpenSea recorded a trading volume of $3.4 billion (approximately Rs 25,320) in the NFT portfolio.
Called “Christie’s X OpenSea,” the collaborative effort will begin in December with an online auction of NFTs led by Christie’s and hosted on OpenSea.
The pieces that will be sold are a combination of collections curated by Christie’s expert and head of online and digital sales, Noah Davis, as well as cryptocurrency collector and curators Ronnie Pirovino and others, according to information by Christie’s.
Art works by artists like Andre O’Shea, Recur, Oseanworld, GMUNK, Ash Thorp and many more will be featured in this sale.
“My hope is that this will be the beginning of a new era for NFT “Web3 is a term that refers to the decentralized future of the Internet as we know it,” Davis said.
The gallery will be open for browsing from December 1 to December 3 while bidding will be open from December 4 to December 7.
In the third quarter of 2021, NFT sales grew to $10.7 billion (approximately Rs 79,820), an increase of more than eight times from the previous quarter, according to data from the market tracking firm. DappRadar.
Christie’s has raised prices with the recent auction of NFT artwork.
In early November, Christie’s auctioned off the HUMAN ONE, a futuristic piece of art created by American digital artist Mike Winkelmann, better known as the Beeple, for $28.9 million. la (about Rs 215) in New York City.
NFT art is also thriving in India.
Recently, Bollywood stars like Amitabh Bachchan and Salman Khan entered the NFT space with the auction of cinema-related NFTs and their identities.
Other Indian celebrities include Manish Malhotra and Dinesh Karthik also sold out NFTs of their cricket sketches and moments.
