Cryptocurrency

Art Blocks finally lands on Christie’s auction

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One of the most popular NFT collections today, the “Art Blocks”, will now be auctioned in one of the world’s biggest and most prestigious auction houses, Christie’s. In this auction, Christie’s will hold a live bidding which would center in Art Blocks Curated.

NFT’s profile has been increasing significantly for the past few months, not only because of its sky-high prices and celebrity ventures but because they are also recognized by premier auction houses such as Christie’s and Sotheby’s. 

One of the non-fungible tokens that have so far landed on prestigious auction houses was Beeple’s “Everyday: The First 5,000 Days”. With the expected increase of NFT auctions, Christie’s even built a subsection especially for NFT assets called “Christie’s Encrypted.” 

Christie’s tweet

In a tweet from Christie’s official Twitter account, it said that the “Art Blocks Curated: Sets 1-3” auction will be held in October. The sets will also be part of an even broader “Post-War to Present” auction series. 

Christie’s also announced that the bidding will be conducted live in ETH, which makes it the first auction house to conduct bidding in this manner. 

CryptoPunks have also gone through bidding that supported ETH payments, but Art Block’s listing appears to be the first time that live bidding will be ETH-first. 

The rise of Art Block

Just like its fellow top NFT collections, Art Block has been steadily rising both in popularity and value, and it is currently showing no signs of stopping. 

To put ArtBlock’s success into perspective, the collection has so far generated half a billion dollars in sales in the past 30 days.

It is an astounding feat that any NFT creator can only dream of. It only ranks second to Axie Infinity, which is currently the most profitable blockchain venture today.

ArtBlock made generative art so popular that other NFT collections are following the same style. 

 

Image courtesy of Cointelegraph News/YouTube

Jet Encila

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Jet Encila

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