Christie’s auctions NFT Collections

by baaaawz

More NFT Collections auctioned at Christie’s Auction House?

In a recent announcement, Christie’s announced that three collections of non-playable tokens (NFTs) would be auctioned off later this year; two of these are trading outside normal NFT markets for the first time.

Christie’s first experience with Meebit and Bored Ape is memorable

The Christie’s auction house will have three NFT collections up for auction: CryptoPunks, Meebits, and Bored Apes. In the event that you wish to bid online, the auction will begin at 2 p.m. on September 17. From now until September 28 at the same time, Hong Kong time.

According to Christie’s, this event will be the first NFT sale in Asia, and the retailer says “exceptionally rare” NFT collections will be offered for this event.

NFT Collections auctioned by Christie’s Auction House

The CryptoPunks and Meebits are the products of Larva Labs. Please remember that if you were to buy a Punk at his current price, it would be worth about 39 Ethereum, which is more than $100,000. A Meebit is a 3D voxel character made of 20,000 individual 3D voxel characters created by a special generative algorithm.

Bored Apes Yacht Club has been developed by Yuga Labs, with more than 5,000 owners having access to 10,000 NFTs.

These new sales are very important for the company, and it is easy to see why.

Bored Ape Yacht Club Publication

Christie’s continues to break new ground in the non-financial trading sector once more. A few months earlier, the auction house didn’t only manage to make history when it sold NFT artist Beeple for $69 million, they also made history when Christie’s auction house sold 9 Punks last May.

$2.16 million was also spent on the sale of the works of five NFT artists FEWOCiOUS. This is the first time we will be able to trade Bored Apes and Meebits without using the NFT exchange platform.

NFT Collections on Ethereum: Cats and Artists

NFT sales are expected to grow significantly in 2021, exceeding $2.5 billion in the first half of the year. Among the biggest players in the market, OpenSea is the largest with over $160 million in sales for the month of June 2021 alone.

With NFTs, Ethereum (ETH) has become a platform for artists to create and share their works. The projects have no shortage of imagination when it comes to monetizing their NFT collectibles.

There are some instances where this is the case, for example, with “Stoner Cats,” an animated series starring such celebrities as Ashton Kutcher and Mila Kunis, which can only be viewed by owners of NFT collectibles from the series.

In spite of this, the development of NFT is constrained by Ethereum scaling problems. Ethereum 2.0 implementation is well underway, but we have not yet moved to proof-of-stake (PoS), an important change that should theoretically solve almost all network scalability problems.

As of now, the latest update to the network remains the London hard fork, successfully deployed on a block of 12,965,000.

Over time, the universe of NFT collections has become more diverse. We have come a long way from the days of pixel avatars to the days of chatting and luxury a la Dolce & Gabbana or even the days of haute couture made in France.

Will this sector still be able to grow indefinitely?

Conclusion

In this day and age, where millions of dollars are being fetched by piles of pixels, sometimes approximate, no one will blame you for not considering buying these products. A revolution in Ethereum is, on the other hand, out of the question.

You need the right guide if you want to be successful in the industry. To get started with Ethereum, check out our Ethereum Guide.

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