{"id":13285,"date":"2022-07-19T05:54:48","date_gmt":"2022-07-19T05:54:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/leading-auction-house-christies-launches-web3-and-fintech-venture-arm-bitcoin-news\/"},"modified":"2022-07-19T05:54:48","modified_gmt":"2022-07-19T05:54:48","slug":"leading-auction-house-christies-launches-web3-and-fintech-venture-arm-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/leading-auction-house-christies-launches-web3-and-fintech-venture-arm-bitcoin-news\/","title":{"rendered":"Leading Auction House Christie\u2019s Launches Web3 and Fintech Venture Arm \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Monday, Christie\u2019s, the leading British auction house founded 256 years ago in 1766, announced the launch of a new venture fund called Christie\u2019s Ventures. According to the announcement, the company\u2019s venture arm plans to focus on \u201c[Web3] innovation, art-related financial products and solutions, and technologies that enable seamless consumption of art.\u201d<\/strong><\/p>\n

Christie\u2019s Ventures to Foster \u2018Web3 Innovation, Art-Related Financial Products\u2019<\/h2>\n

The British auction house Christie\u2019s has revealed a new venture fund that aims to support \u201cemerging technology and fintech companies.\u201d The firm said that it plans to work in unison with its portfolio startups in order to accelerate growth and push Christie\u2019s activities into innovative directions.<\/p>\n

\u201cChristie\u2019s Ventures will start by exploring three broad categories,\u201d the company said<\/a> on July 18. \u201c[Web3] innovation, art-related financial products, and solutions and technologies that enable seamless consumption of art.\u201d<\/p>\n

With premises located in London, New York City, and Hong Kong, Christie\u2019s is the largest second-largest auction house in terms of auction turnover behind Sotheby\u2019s and above the auction firm Phillips and China Guardian.<\/p>\n

Christie\u2019s has been into digital currency and blockchain solutions for some time now. In September 2020, the auction house sold the first bitcoin artwork ever when Christie\u2019s presented<\/a> Block 21 of \u201cPortraits of a Mind.\u201d<\/p>\n

The following year, the auction house accepted bitcoin (BTC)<\/a> for a painting worth $6 million. The painting was crafted by Keith Haring and sold at Christie\u2019s \u201c20th\/21st century\u201d sale in London.<\/p>\n

For some time now, Christie\u2019s has been auctioning blue-chip non-fungible tokens (NFTs) and was the auction house behind Beeple\u2019s \u201cEverydays: The First 5,000 Days\u201d NFT that sold for $69.34 million. Christie\u2019s has been behind auctions featuring Cryptopunks, Meebits, and Bored Ape NFTs<\/a>, alongside a full set of NFT Curio Cards<\/a>.<\/p>\n

In addition to Christie\u2019s, auction house competitors Sotheby\u2019s<\/a> and Phillips<\/a> have stepped into the crypto<\/a> and NFT space as well. As far as Christie\u2019s new venture arm is concerned, the auction house\u2019s first portfolio company is a startup called Layerzero<\/a> Labs.<\/p>\n

According to Christie\u2019s, \u201cLayerzero is a cross-chain interoperability company with a strong vision and business model within a broad addressable market. The company reduces friction in a client\u2019s ability to move assets between blockchains.\u201d<\/p>\n

Christie\u2019s press release highlights that the company has been involved with technological innovation for years now and was one of the first international auction house companies to offer online auctions.<\/p>\n

\u201cChristie\u2019s multi-site auction live streaming, augmented reality tools, support for NFT digital art, and award-winning digital marketing has made the business more accessible and resilient,\u201d the company said on Monday.<\/p>\n

\u201cAs a global leader in the art market, Christie\u2019s has both an incentive and a responsibility to further innovation and deepen experiences for our clients,\u201d Ben Gore, Christie\u2019s chief operating officer said in a statement. \u201cThe intersections of technology and financial products are increasingly relevant and prevalent, and we believe strongly in the opportunities ahead.\u201d Gore added:<\/p>\n

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For the companies we select to work with, as well as for our clients, the Christie\u2019s Ventures value proposition combines the power of our brand and capital together with our network and expertise; it is another example of the formidable Christie\u2019s advantage.<\/p>\n<\/blockquote>\n

Christie\u2019s follows the launch of \u201cSotheby\u2019s Metaverse<\/a>\u201d which was launched<\/a> in October 2021 and featured artists like Paris Hilton<\/a> after the platform opened. The newly appointed global head of Christie\u2019s Ventures, Devang Thakkar, believes the auction house is in a good position to provide growth to technologically innovative ideas and startups.<\/p>\n

\u201cOur leadership has provided us with an excellent vantage point thus far and the launch of Christie\u2019s Ventures will allow us to develop further and faster with entrepreneurs who have a strong track record of building great products and companies,\u201d Thakkar remarked during the announcement.<\/p>\n

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Art<\/a>, Auction House<\/a>, Ben Gore<\/a>, Bitcoin<\/a>, Bitcoin (BTC)<\/a>, Blue-Chip NFTS<\/a>, Bored Ape NFTs<\/a>, Christie’s<\/a>, Christie’s Auction<\/a>, Christie\u2019s Ventures<\/a>, Crypto<\/a>, cryptopunks<\/a>, Curio Cards<\/a>, Devang Thakkar<\/a>, Fintech<\/a>, Hong Kong<\/a>, Layerzero<\/a>, Layerzero Labs<\/a>, London<\/a>, Meebits<\/a>, New York City<\/a>, nft<\/a>, NFTs<\/a>, Phillips<\/a>, Sotheby’s Metaverse<\/a>, Sotheby\u2019s<\/a>, Web3<\/a><\/div>\n<\/div>\n

What do you think about the newly launched Christie\u2019s Ventures? Let us know your thoughts about this subject in the comments section below.<\/strong> <\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Tobias Arhelger \/ Shutterstock.com<\/em><\/p>\n

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