Christie's goes on-chain with NFT auction platform on Ethereum

New marketplace enables prestigious auction house to conduct auctions and sales on the Ethereum blockchain" from start to finish the end".

After a series of successful high-priced non-fungible token (NFT) sales, Christie's has launched its own dedicated NFT "on-chain auction platform", allowing auctions to be conducted entirely on-chain on the Ethereum network.

The 256-year-old British auction giant, which is also the world's second largest auction house by fine art auction revenue, said its Christie's 3.0 enables auctions NFTs to be conducted entirely on the ETH network "from start to finish:"

"All transactions, including after-sales, will be automatically recorded on the blockchain."

In its previous NFT auctions, the winning bidder's payments were not always made on a blockchain, but the creation of Christie's Marketplace allows transactions to occur in a similar way instead of popular OpenSea marketplace, allowing payments to be made in Ether (ETH).

Christie's said the new marketplace was developed in partnership with smart contract development startup NFT Manifold, metaverse development company Spatial, and blockchain analytics firm Chainalysis.

Christie's 3.0 enables end-to-end auctions on the Ethereum blockchain network. All transactions, including after-sales, will be automatically recorded on the blockchain. (2/4)

The announcement was associated with the inaugural launch of a single New Market-exclusive project by artist Diana Sinclair, with just nine NFTs that can be viewed...