Christie’s will offer blockchain-based certificates of ownership for a photo collection it is auctioning.
Christie’s involvement in blockchain-based innovations dates back to 2021, when it auctioned digital artist Beeple’s ‘Everyday’ collection for $69 million.
Christie’s is once again experimenting with blockchain-based technology by issuing digital certificates of ownership for a photo collection by Trevor Traina, the founder of wallet provider Kresus and former US ambassador to Austria.
The auction house’s sale of “An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina” Wednesday at Rockefeller Center in New York will issue digital certificates for each of the 130 lots. The ownership certificates will be issued by Kresus on Base, the Ethereum layer-2 blockchain developed by Coinbase (COIN).
“This pilot program marks an important step forward in the adoption of blockchain technology in the art world, matching physical works with digital certificates to ensure transparency and security for art collectors,” Christie’s and Kresus said in an emailed announcement on Wednesday.
Christie’s involvement in blockchain-based innovations dates back to 2021, when it auctioned digital artist Beeple’s ‘Everyday’ collection for $69 million, at the time the most expensive non-fungible token (NFT) ever sold.
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