Art Auction House Christie’s releases Web3 Investment Fund

Christie’s, the internationally renowned British auction house, announced the introduction of “Christie’s Ventures,” an investment fund for fintech firms seeking technological advancements in the art industry.

Christie’s said its new fund will “work alongside portfolio companies to help accelerate their progress, simultaneously advancing Christie’s activities in the presentation, education, and sales of fine art and luxury goods.”

The auction house is particularly interested in investing in three areas: Web3 innovation, art-related financial products, and “solutions and technologies that enable seamless consumption of art.”

Art House Christie’s announces LayerZero Labs

Christie’s, also introduced their first portfolio firm, LayerZero Labs.

LayerZero is an interoperability solution that unites a community of cross-chain developers to create decentralised applications (dApps) that can navigate across different blockchains without any friction.

The project’s co-founder and CEO Bryan Pellegrino said in a statement: “We look forward to working with their team to find new and innovative ways to create the most accessible, frictionless experience with assets indexed over multiple blockchains.”

 Christie’s offers a full portfolio of global services to its clients, including art appraisal, art financing, international real estate and education

Christie’s and NFT market

Christie’s may have been founded in 1766, but it has already established a place in fintech history as one of the few established art auctioneers to serve the crypto art market.

In March 2021, crypto artist Beeple created an image every day for 5000 days and put the entire collection into a non-fungible token (NFT) titled “EVERYDAYS: THE FIRST 5000 DAYS,” which sold for a record-breaking $69.3 million at auction to NFT whale Metakovan. This was Christie’s inaugural NFT sale.