NFTs have emerged as the jewel of the crypto community and account for a bulk of the revenue generated in the space. In addition, NFTs are precious digital assets that represent real-world artefacts such as art, music, in-game items, and films. They use blockchain to record the ownership status of these items, and while anyone can look at the items, only the buyer of an NFT has the legal right to call it their own.
More crypto projects are increasingly associating themselves with NFTs, and recently, UK auction house Christie’s announced that it would hold an auction for some of the oldest NFTs since inception, and its live bids would be accepted on crypto Ether(ETH) tokens. This announcement signals a huge milestone for any auction house, according to Christie’s.
NFTs from the Art Blocks curated collection will be auctioned in addition to these CurioCards NFTs being auctioned by Christie’s. The much-anticipated auction was tagged “Post-War to Present” This auction has a series of benefits to NFT lovers and would give artists the chance to lay their hands on NFTs they have long admired for a little token.
Modern-day artists will be given a chance to select post-war artworks they love, and there are about 200 of those artworks which can be paid for using ethereum. Reports have revealed that the auction will begin on the 1st of October. The event will be kicked off with the auction of a series of post-war artworks put together by famous Canadian collector, Barcella, tagged “Art Blocks Curated.”
Also, some of the oldest artworks made on the Ethereum blockchain would be auctioned by the popular online art platform, “CurioCards,” which serves both digital artists and collectors. Some of the artworks to be auctioned comprise a complete set of 30 cards, as well as 17b, a set of 31 non-fungible tokens (NFTs). Also, the sale will include well-adored pieces of artwork by well-known artists such as Helen Frankenthaler, Joan Mitchell, Elaine de Kooning, and Grace Hartigan, as well as others by the respected Wayne Thiebaud.
A tweet by Christie’s announcing the auction was all it took to sweep NFTs lovers into bliss. The announcement was also confirmed by CurioCards, which uploaded a sweet video that gave users a glimpse of what’s up for the anticipated auction.
NFTs: The Future of Crypto?
The last three months have been an NFT revolution within the crypto space, and most crypto lovers find it to be the easiest way to cash in on the blockchain. The world was stunned when an earlier auction of NFTs and physical artwork by 18-year-old transgender artist FEWOCiOUS raked in a whopping $2.16 million, showing how much earning potential this formerly obscure concept wields. Most experts have labelled NFTS as the future of crypto, and from the huge wave it’s causing, more explosive feats are expected in the coming days.