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nft now, Christie’s & OpenSea’s On-Chain Auction Closes at $3.6 Million

BY Langston Thomas

December 08, 2021

nft now, Christie‘s and OpenSea made history this week as the major auction house’s first-ever on-chain sale closed with a total of 843 ETH ($3.6 million).

The one-of-a-kind auction featured lots available for viewing from Dec. 1-3, both online and at nft now x Christie’s “The Gateway” event during Art Basel Miami, with bidding taking place from Dec. 4-7.

Curated by nft now, Christie’s specialist and head of digital Noah Davis, and curator Ronnie Pirovino, the collection featured collectibles and new 1/1 artworks from prominent artists across the worlds of NFTs and traditional art. nft now is now the first digital media publication in history to co-curate a major auction house sale.

As one of the main NFT features during Art Basel Miami, nft now’s inaugural “The Gateway” event introduced the collection to the world with the exclusive announcement of Christie’s’ significant step forward into web3.

The sale is historic as Christie’s first on-chain auction in which the bidding, payment and transfer process took place on the Ethereum blockchain via NFT platform OpenSea. Previous major auction house NFT sales were conducted off-chain via traditional online interfaces and escrow services. On-chain auctions offer the benefits of decentralization, security and transparency, as every bid is public and permanently recorded on the blockchain.

The auction was not only a major triumph for both the NFT community and auction house giant, but also provided a look into the future in which the worlds of traditional art and NFTs coexist in creative harmony. Featuring community favorites like Alpha Centauri Kid, Blake Kathryn, FVCKRENDER, and many more, the sale drew an audience of NFT enthusiasts, crypto whales, and legacy art collectors alike.

The highest lot of the sale was CyberKongz #201, which sold for 185 ETH ($793,439). Proceeds from the sales of CyberKong #201 and CyberKong #46 — which sold for 96.6 ETH ($414,304) — are to be donated to benefit Virunga National Park.

3LAU attending nft now & Christie’s “The Gateway” event on December 2, 2021 during Art Basel Miami. Credit: Jason Sean Weiss/BFA.com & Sansho Scott/BFA.com.

Additional highlights included the sale of FriendsWithYou’s fRiENDSiES 00001, which brought in 96.9 ETH ($415,591), and 3LAU’s WAVEFORM. WAVEFORM — which is powered by 3LAU’s revolutionary new company royal — sold for 77 ETH ($330,242). Considering this 1/1 song from the star DJ/producer granted 100% of its rights to the buyer, it was no surprise that it resold only hours later for 127 ETH ($547,331).

“In curating this historic auction with Christie’s, we sought to bring the worlds of traditional art and NFTs together with leading trailblazers and fresh faces alike,” said Matt Medved, nft now co-founder and CEO. “We are thrilled by the sales results, excited for the artists, and inspired that so many share our vision for a future where both worlds coexist in creative harmony.”

Alejandro Navia, nft now co-founder and president commented, “This auction was historic for many reasons. In addition to being Christie’s first on-chain auction, nft now is the first digital media company in history to co-curate a major auction house sale. We are incredibly grateful to the artists, the collectors, and our community for all the love and support they have shown us. For generations to come, we will look back at how forward-looking this moment was.”

To see the full results of the nft now x Christie’s x OpenSea sale, visit the auction’s official OpenSea page here.

Photos courtesy of Christie’s.

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