Auction house Christie’s has entered the world of web3 with Christie’s 3.0.
Christie's 3.0 is a new NFT platform from the conventional auction house, which is trying to establish itself in the NFT industry.
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Christie’s 3.0 acts as a marketplace and auction house for digital art curated by Christie’s.
Christie’s 3.0
The new Christie’s marketplace is an on-chain auction house for NFT artworks. NFTs featured on Christie’s 3.0 will be curated by Christie’s.
Users will be able to bid on Christie’s 3.0 auctions by connecting a web3 wallet such as Metamask or Coinbase’s web wallet to the NFT platform. Users will then need to set up a Christie’s 3.0 account to progress further.
Personal identification is required to create a Christie’s 3.0 account. Existing Christie’s customers will be able to place bids on NFTs without additional I.D.
The digital auction house is built on Ethereum and bidders will need to pay Ethereum gas fees and Christie’s sales tax on successfully purchased NFTs.
Virtual gallery
At present, Christie’s 3.0 features a virtual gallery in partnership with metaverse company Spatial. In the virtual gallery, visitors are able to view NFT artwork curated by Christie’s.
Visitors take the form of an avatar that can move around the gallery and view the displayed artwork in Christie’s three-dimensional world.
Users are able to use speak to others in the gallery and take pictures. The virtual gallery takes cues from social networks like Instagram and Facebook by implementing a ‘like’ button.
Auctions
Christie’s 3.0’s auctions tab takes visitors to the platform’s ongoing auctions. Those who are interested in more information about the art can contact Christie’s 3.0's specialist in digital art sales, Nicole Sales Giles.
Christie's 3.0 NFT platform is intriguing, but it may struggle with the current NFT community, which is accustomed to using decentralised NFT platforms such as X2Y2 and LooksRare, both platforms that offer users incentives for purchasing NFTs and have associated cryptocurrencies for speculators.
Requiring users to do KYC (Know Your Customer) before being allowed to use Christie’s 3.0 will push most NFT collectors away. The NFT community is one that enjoys permissionless interactions and NFT collections that consist of 10k pictures of cartoon anthropophyte animals. It will take a while for Christie’s 3.0 to truly lift off if it even manages to do so.
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