Christie’s is kicking off a new venture fund focused on Web3 and fintech.
Renowned British auction house Christie’s, established in the 18th century, is committed to innovation. After conducting prominent NFT auctions, the firm has introduced its Web3 investment initiative, Christie’s Ventures. This fund aims to provide initial capital to tech startups, paving the way for collectors interested in digital artistry.
This venture fund will concentrate on delivering financial support and expert guidance to innovative tech and fintech companies that are art-centric—focusing on advancements in Web3, financial products tied to art, and related technologies.
The inaugural investment by Christie’s in this portfolio is with LayerZero Labs, a Canadian Web3 firm. Their protocol facilitates interoperability across various blockchains, enabling seamless transactions for users.
As a frontrunner in the global art market, Christie’s sees it as both a privilege and a duty to enhance innovation and enrich customer experiences. The crossroads between technology and financial services is increasingly significant, and we are optimistic about the potential developments on the horizon,” commented Ben Gore, COO of Christie’s. said in a press release.
This announcement comes right ahead of the Christie’s Art + Tech Summit 22 The event is backed by blockchain investment firm Galaxy Digital and features TIME magazine’s TIME Pieces NFT community as a media partner.
Last week, Christie’s announced The company reached an impressive $4.1 billion in global sales for the first quarter of 2022—the highest total since 2015.
On March 11, 2021, Christie’s made headlines when it sold a groundbreaking NFT by Beeple for an astounding $69,346,250. the second most expensive NFT ever sold.
Recently, Noah Davis, who leads the NFT department at Christie’s, announced announced his departure to join Yuga Labs as the new brand head for CryptoPunks.
Until July 25, there is an auction Christie’s collaborated with UPenn to auction an NFT titled \"Vaccines for a New Era,\" which features a one-minute 3D animation celebrating a pivotal scientific achievement.
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