The world's leading auction house of luxury items and blue-chip NFTs, Christie's, has recently launched an investment fund, Christie's Ventures, to support the emerging web3 companies with technology allowing “seamless consumption of art.”
The news arrived on July 18th via Christie's blog post. Thus, the Christie's Ventures fund will provide financial and expert support to technological startups, creating solutions with art market relevance. Christie’s Ventures will empower those companies by providing them with advanced Christie’s activities in the presentation, education, and sales of Fine Art and Luxury Goods.
According to Christie's, the auction house's first funding will go to support LayerZero Labs, a company developing solutions for enabling omnichannel decentralized applications, making cross-chain transfers more hassle-free.
“We will focus on products and services, which can solve real business challenges, improve client experiences and expand growth opportunities, both across the art market directly and for interactions with it,” Christie’s Ventures global head Devang Thakkar announced.
Christie’s has been long promoting technology in the art auctioning process. Thus, in 2011, it became the world's first auction house to hold online-only auctions. Of course, it's worth noting that Christie's NFT auctions with the participation of the most prominent digital artists and their artwork are the best proof of the company's forward-thinking principles.
Based on everything stated above, Christie’s Ventures becomes the next logical step to cementing Christie’s position as a leader in innovations when it comes to both physical and digital luxury items auctions.