Auctioneers Save NFT Flames
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Girl group Espa NFT.
Christie's and Sotheby's, the world's two largest auction companies, are seeking to revive the NFT market by introducing an NFT (non-replaceable token) auction platform and discovering new artists. The virtual currency market is on a rebound, with Ethereum rising more than 20% in January alone, and the art community is paying keen attention to whether the NFT market, which had been driven to a life-or-death crisis due to the participation of giants, will be revived.
Christie's introduced 'Christy 3.0' in October last year. Christie's 3.0 is a new type of auction platform that is paid in Ethereum and only bidders with digital wallets can participate and there is no fee. Christie's aggressive in the NFT market, which won a new record of $69.3 million in Bipple's "All Days," opened an on-chain (recorded history with blockchain) platform, not a classic on-site auction.
At the first auction, nine pieces of Diana Sinclair's NFT works were exhibited, and it succeeded in winning an auction of about 67 Ethereum (about 130 million won).
Sotheby's is also continuing digital art and NFT transactions through a platform called 'Metaverse'. It is also paid in dollars, and sold at a single price, not an auction.
In October last year, NFT 'æ girls', which produced a 20-second video of a member of Korea's popular K-pop group 'Espa', was also unveiled. It is a work created by 3D digital artist Blake Catherine, who has collaborated with Fendi and Jimmy Choo, in collaboration with SM Entertainment. Ten pieces were released and sold out at around $2,000 (about 2.5 million won) each.
