London-based British auction house Christie’s has announced its undisclosed investment in LayerZero, the first ever commitment it will be made through its new investment arm- Christie’s Ventures.
As revealed by the company, Christie’s Ventures will deploy funds to back emerging tech startups and financial innovations that are relevant to the art market.
“As a global leader in the art market, Christie’s has both an incentive and a responsibility to further innovation and deepen experiences for our clients,” said Ben Gore, Christie’s Chief Operating Officer, adding that “the intersections of technology and financial products are increasingly relevant and prevalent, and we believe strongly in the opportunities ahead. For the companies we select to work with, as well as for our clients, the Christie’s Ventures value proposition combines the power of our brand and capital together with our network and expertise; it is another example of the formidable Christie’s Advantage.”
The new Christie’s Ventures offshoot will be led by Devang Thakkar, who said the investment arm 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 has always been setting the pace when it comes to embracing digital innovations. The company signalled its full backing for the digital currency ecosystem and Non-Fungible Token (NFT) offshoot when it helped auction Mike Winkelmann’s record-breaking NFT collage dubbed Everydays: The First 5000 Days.
The NFT was later revealed to be acquired for $69.3 million by Metakovan. Per the ultimate goal of Christie’s Ventures, any startup with the promise of advancing arts reach will be getting financial and professional support.
More major industry players across both Web2.0 and Web3.0 are floating funds through which they plan to invest heavily in Web3 initiatives. With the investment into LayerZero, Christie’s has revealed how willing it is to deepen its ties in the nascent blockchain world.
Digital currency payments startup, MoonPay, has come off as the lucky winner of an auction for a World of Women (WoW) Non-Fungible Token (NFT).
Reportedly, acting on behalf of a client, the WoW NFT #5672 was snapped up for £567,000 ($754,340) at the auction conducted at Christie’s London Evening Sale announced on Tuesday.
The WoW NFT is a collection of 10,000 unique digital drawings of women with various traits. The collection sought to celebrate women ad its community is dedicated to celebrating representation, inclusivity, and an equal opportunity for all. Based on the ideals that the WoW NFT stands for, the collection has been attracting high-profile sales in recent times.
As reported earlier by Blockchain.News, financial advisory services firm KPMG in Canada was amongst the prominent buyers that snapped up the WoW NFT in the past week. In justifying its reasons, the company said the values represented by the WoW NFT collection resonate with its broad tenets.
The floor price of the WoW NFT is currently pegged at 8.74ETH, with a total of over 54,000 ETH in volume sold thus far. The #5672 is one of the NFTs that has a rare trait, described as having a night goddess skin tone and a tuxedo with full black hair and a conspicuous reddish lip.
While it is unclear who the buyer MoonPay purchased for, the service rendered compliments its tailored services which it floated last year and described as a “White glove service for high net worth individuals who want to purchase NFTs most simply without all the hassle of setting up a wallet, buying crypto, using that crypto to purchase an NFT, and then taking custody of it.”
The recent purchase by MoonPay generally echoes the building hype around NFTs, and apparently, more corporate investors are becoming more interested in becoming proud owners of a rare collectable.
Christie’s has revealed that it made nearly $150 million in revenue from NFT sales this year.
The auction house’s total global sales this year were strong at $7.1 billion.
Christie’s foray into the world of NFTs likely contributed to the wave of enthusiasm around NFTs in 2021.
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World-famous auction house Christie’s has made nearly $150 million in revenue this year from NFTs alone.
A Novel Moneymaker
Christie’s, the British auction house founded in 1766,announcedtoday that it had sold close to $150 million worth of NFTs in 2021 “after launching this new market first on the global auction stage.”
This represents a rather small portion of Christie’s total sales this year, which itprojectsto be $7.1 billion globally; total sales for the auction house were roughly 54% higher than they were last year. These are Christie’s highest numbers in the last five years.
Traditional art still dominated Christie’s sales this year: two of the mostvaluable workssold at auction in 2021 were a Picasso at $103.4 million and a Basquiat for $93.1 million. However, the same May evening that the Basquiat sold, nine CryptoPunks—arguably the most famous NFT collection in the world—soldat auction for a total of $16.9 million.
Beeple was easily the most valuable NFT artist represented in the auction house’s catalog this year. In March, he sold his “Everydays: The First 5,000 Days” NFT at Christie’s for $69.34 million. This sale arguably kicked off the NFT craze that characterized this year.
In November, Christie’s sold another one of Beeple’s works, called “HUMAN ONE,” a 7-foot-tall astronaut sculpture that was paired with an NFT, for just under $29 million. That same month, Christie’s and OpenSea partnered to sell a whole collection of NFTs.
Total sales volume for the entire NFT market has beenestimatedat $12 billion in 2021, which might make the $150 million done at Christie’s seem rather small in comparison. However, it seems likely that Christie’s entrenched position in the traditional art world helped to elevate NFT art to new level of respectability.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Wikipedia founder Jimmy Wales is auctioning an NFT containing the first-ever edit of Wikipedia from 2001.
The auction will also include the strawberry-colored iMac G3 that Wales used to design the website.
The sale will run between Dec. 3 and Dec. 15 at Christie’s.
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Wikipedia founder Jimmy “Jimbo” Wales is auctioning his first-ever site edit as a non-fungible token or NFT.
NFT Features Wikipedia Snapshot
Though the NFT is advertised as containing Wales’ first edit, it more accurately contains the original state of Wikipedia’s website.
“‘Hello, World!’ was the first edit Wikipedia co-founder Jimmy Wales made to the site’s homepage after launching it on 15 January 2001,” the item’s auction page explains.
The NFT’s content can be seen at www.editthisnft.com, which hosts a mirror of Wikipedia as it was seen on that date at 6:29 pm.
The item is part of an auction titled “The Birth of Wikipedia,” which also includes the desktop computer that Wales used to create the website: a strawberry-colored iMac G3.
The auction is being carried out via Christie’s and will run from Dec. 3 to Dec. 15. So far, the iMac has attracted bids of $2,200, while the Wikipedia NFT has attracted bids of $2,400.
Proceeds from the sale will go toward funding WT.Social, Wale’s non-toxic social network. The project aims to replace ad revenue and content algorithms with donations and choice of content.
Other Tech Leaders Have Created NFTs
Wales’ NFT sale resembles two earlier auctions from tech leaders. In June, Tim Berners-Lee auctioned the source code for the World Wide Web as an NFT via a $5.4 million sale at Sotheby’s.
In March, Twitter co-founder and former CEO Jack Dorsey sold his first tweet as a non-fungible token for $2.9 million.
At that time, Wales joked about selling his iMac, noting that unlike an NFT, “it’s real and I could bring it to you.” Now it seems that Wales has decided to follow through and sell both items.
Disclaimer: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Christie’s has partnered with OpenSea to sell a new collection of non-fungible tokens to art collectors.
This sale will take place on the major NFT marketplace OpenSea rather than Christie’s own website.
Christie’s said earlier this fall that it has sold more than $100 million in NFTs through previous sales.
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OpenSea and Christie’s have partnered to auction a series of non-fungible tokens to art collectors around the world.
Sale To Be Headlined by Mad Dog Jones
The sale is headlined by Mad Dog Jones, who previously had an NFT sold by the Phillips auction house this year. His animated piece, titled “Forever,” will be on auction during Christie’s sale.
The sale will also include works from artists such as Blake Kathryn, Fvckrender, Victor Mosquera, Krista Kim, and Olive Allen. The collection has been curated by Christie’s Noah Davis, curator Ronnie Pirovino, and the NFT news site nftnow.com.
The auction gallery will be viewable from Dec. 1 to Dec. 3 and bidding will be open between Dec. 4 and Dec. 7.
Unlike other auctions hosted on Christie’s own website, this auction will be carried out through the major NFT marketplace OpenSea. Payments will be made through the Ethereum blockchain.
Christie’s Has Sold Over $100 Million in NFTs
Christie’s has previously auctioned several non-fungible tokens, including items from the CryptoPunks and Bored Ape Yacht Club collections, Beeple’s “Everydays” collage and “Human One” sculpture, and a digital portrait of Bitcoin creator Satoshi Nakamoto.
In September, the auction house reported that it had surpassed $100 million in NFT sales since its first auction in 2020.
Christie’s latest sale comes just as its competitor Sotheby’s has announced a charity sale, which will see the auction house sell NFTs originally created by Twitter this June.
Disclosure: At the time of writing, the author of this piece owned less than $100 of Bitcoin, Ethereum, and altcoins.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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An admin account for Beeple’s official Discord group was compromised overnight resulting in a fake NFT drop that saw users lose an estimated 38 ETH.
An admin from Beeple’s Discord named “Multi” confirmed to the group on Nov. 10 that their account had been compromised despite having 2FA. The perpetrator went on to impersonate Multi and the Beeple Announcements Bot to promote a fake NFT drop from Beeple on Nifty Gateway.
The incident is the latest in a long line of Discord hacks that have caused users substantial losses.
Discord members were primed to expect Beeple to run a cheap drop on the back of his most recent auction since he has done it before, with raffles that saw users snap up his NFTs for as little as $1. Fans kept tabs on the the Discord channel and Beeple’s Twitter all day for a chance to snap up some bargain NFTs.
Discord member “NFT Simon” told Cointelegraph he had his Metamask wallet set up and was ready to pounce just in case.
Multi’s post after the hack: Beeple’s Discord
“When the post came up on the Official Beeple Discord, from the verified Beeple Bot and the verified Administrator with a link to a Nifty Gateway website I didn’t blink twice. I headed over and proceeded to mint as much and as fast as I could,” he said.
NFT Simon nabbed six Beeple NFTs — or so he thought — but was unable to view them on his Nifty account. Back on Discord he was dismayed to find the fake admin was writing in all caps.
“I was greeted to a multiple explicit Gifs of naked men coming from multiple users. It was clearly a scam and someone had hacked Beeple’s Discord.”
After an hour or so the original admin regained control of their login and the chat turned to outing the hackers wallets and reporting them to Binance. “Then we all watched them slowly but surely cash out our money, it was all too late,” he said.
Etherscan shows the alleged hacker’s wallet only has $9,121.54 remaining and that 25 ETH was moved abruptly. Users report more ETH was lost however.
Members of the Discord group provided a mixed reaction today, with some being reasonably calm that Beeple would sort the issue out, while others lamented over the fact that they “FOMO’d” in without thinking.
“I still don’t own a Beeple. I know Beeple stood up for the community once when we crashed Makers Place, who knows how or if he will right things this time. I’d certainly prefer six Beeples over my ETH back,” said NFT Simon.
Beeple’s official account did not address the incident directly but posted a pinned message reading: “To everyone new, please know I will never be like HEY QUICK BUY THIS!!!!”
In response to the lack of communication, one user wrote that instead of a pinned message a “calming and understanding announcement would make things easier to accept.”
“This was not a simple DM with a link, but a major security breach with no mods present that continued for about an hour.”
Cointelegraph has contacted the Discord admins for comment.
A post from the compromised Beeple Announcements Bot on Discord
Famed digital artist Beeple last night sold his ‘HUMAN ONE’ sculpture for nearly $29 million at Christie’s, crushing many estimates.
The piece features a 7-foot-tall astronaut dressed in a mirrored helmet and silvery suit that appears to stroll sci-fi landscapes.
Many other prominent artists like Damien Hirst, Banksy, and Jean-Michel Basquiat had pieces sold at the auction. Some pieces were payable using cryptocurrency.
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Towards the end of the auction, six-figure bids started to feel boring and tame.
Beeple Gets Real
Last night, one of the most valuable living artists in art auction history, Beeple, sold ‘HUMAN ONE’ for $28,985,000 in Christie’s 21st Century Evening Sale. The sale far exceeded the $15 million expectations.The auction was a live event in New York City but had bidders represented from across the world.
The event, which was viewable via livestream, showcased 40 lots of art, and Beeple’s ‘Human One,’ a 7-foot-tall sculpture and its accompanying NFT, was the seventh lot. The auctioneer mentioned how hotly anticipated the piece was, and bidding was up to $15 million in seconds, seeing a major bidding war between someone present in the room and someone online from Switzerland. Ultimately, $25 million was the winning bidsecured byRyan Zurrer of Dialectic. After auctioneer fees and taxes, the price tag is $28,985,000.
The life-size astronaut slowly rotates, appearingto strollthrough the sci-fi landscapes it finds itself in. Beeple told Christie’s, the 255-year-old auction house, that hehad plansto update the piece “fairly regularly,” even going so far as to say that the owner of this piece “won’t really know what they’re getting because I’ll keep changing it.”
Peter Doig’s ‘Swamped’ achieved $39,862,500. Some other NFTs were sold, and some pieces were payable via cryptocurrencies Ether and/or Bitcoin. The last piece that went up for auction was a video (with audio) that included an accompanying NFT, which went for $420,000.
Beeple (Michael Winkelmann) made waves in March of this year when he sold his NFT “Everydays: The First 5,000 Days” for 69.3 million in an online-only sale that saw some 22 million website visitors who witnessed the end of the sale. This piece was a collage of every image Beeple posted online daily since 2007, and this lofty time componentwas citedby the winner of the auction as a primary motivation for the purchase. This was arguably a watershed moment in NFT, art history that set the stage for the NFT Summer craze.
Beeple received payment for that sale in Ethereum (42,329.453 ETH), and if he had not sold it for U.S. dollars, it would be worth roughly 2.5 times more today than in March. In speaking of NFTs more generally, Beeple told Christie’s, “It feels like genuinely new work is being birthed through this technology, through this movement.”
Beepleshould appearon Jimmy Fallon Wednesday night, and he seemedhappy tohave his parents at the live auction event last night to support him.
Disclaimer: At the time of writing, the author of this feature held BTC, ETH, and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Digital artist Bleeple cemented his place in the history books with this one. Auction house Christie’s sold his human-size 3D video sculpture and NFT hybrid in their first live event since the pandemic. The piece exceeded expectations, the projections had “Human One” selling for $15M and it almost doubled that. Does this hybrid format open a new chapter for NFT art? We wouldn’t know, but Bleeple’s piece sold alongside works from Jean-Michel Basquiat, Banksy, and Peter Doig.
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A better question might be, are NFT artists willing to put this much effort into their pieces?
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What Do We Know About “Human One” By Bleeple?
The real-life installation is almost 7 Ft. high and consists of four screens. It has a computer at the base. The environment the astronaut-like figure walks through is ever-changing. According to Christie’s “it’s drawn at random from a data pool of the artist’s visual creations that is accessed via the Ethereum blockchain.” Not only that,Barrons.com informs usthat “Beeple’s plan is to shift the generative art images over time “in response to current events,” Christie’s said. The result will be “an eternally contemporary work of art.”
❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️ https://t.co/5phhwNZaxV
— beeple (@beeple) November 10, 2021
But wait, why would they use the Ethereum blockchain where a normal database would suffice? We hope that the owner doesn’t have to pay gas fees for that. The clips are one minute long and the piece keeps changing 24 hours a day. In any case, Ethereum hosts the NFT attached to “Human One.” A crucial piece of the pie, since Bleeple is known for his record-breaking “Everydays – The First 5000 Days.” It was the first NFT Christie’s auctioned and it went for $69M.
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In any case, Mike Winkelmann AKA Bleeple described “Human One” as “the first portrait of a human born in the metaverse.” He told Christie’s, “I want to make something that people can continue to come back to and find new meaning in. And the meaning will continue to evolve. That to me is super-exciting. It feels like I now have this whole other canvas.”
ETH price chart for 11/10/2021 on Kraken | Source: ETH/USD on TradingView.com
What Do We Know About The Auction And The New Owner?
According toBarrons again, “the auction focused on art created since 1980.” The event was“live-streamed to the world with specialists in London and Hong Kong manning the phones and projected on video screens in New York.“ The following videos capture all the action. In the first one, Bleeple himself gives us a backstage tour to Christie’s headquarters. In the second one, a fan screen-captured the moment in which the auctioneer sells Bleeple’s piece.
pic.twitter.com/mrBrYZfXOM
— Alex Roman (@3rd7th) November 10, 2021
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Why do they say $25M in the video butthe official Christie’s pagesays $28.9M? That information is above our paygrade. We did find who the lucky new owner is, though. Crypto-focused family office Dialectic’s Managing Director, Ryan Zurrer. A notorious NFT collector that used to be the Web3 Foundation’s director. In his announcement tweet, Zurrer thanked Bleeple “for the visionary innovation, amazing new energy and hilarious positive vibes that you’ve brought to both crypto and art.”
Secured the ONE. Thank you @beeple for the visionary innovation, amazing new energy and hilarious positive vibes that you’ve brought to both crypto and art. gn pic.twitter.com/XfhmxM9Luj
— Ryan Zurrer (@kukulabanze) November 10, 2021
Inhis response tweet, Bleeple said “INSANELY HONORED to be in this collection.”
That’s the “Human One” story so far.
Featured Image: "Human One" screenshot | Charts by TradingView
Fine art auction house Christie’s has successfully sold a batch of NFTs from top collections CryptoPunks, Bored Ape Yacht Club, and Meebits for a combined total of $12 million.
Christie’s Raises $12M in NFT Drop
NFTs are continuing to command high prices at the world’s premier auction houses.
Christie’s, the biggest auction house by sales volume, concluded its “No Time Like Present” sale Tuesday morning, with the NFTs in the collection totaling a combined sales value of $12 million. The online sale was conducted by Christie’s Hong Kong and included several NFTs from CryptoPunks, Bored Ape Yacht Club, and Meebits.
Of the 14 NFTs sold, a CryptoPunk took the top spot, selling for $4.3 million. While the rare zombie Punk, of which only 88 exist, was the highlight of the sale, it fell short of breaking the record for the most expensive CryptoPunk ever sold. In June, an even rarer alien Punk sold at rival auction house Sotheby’s for $11.75 million.
Along with the zombie Punk, five other CryptoPunks, four Bored Apes, and four Meebits were also up for sale. Those looking to purchase the NFTs were able to bid with either Hong Kong dollars or Ethereum in the online auctions.
Today’s NFT sale is one of several similar auctions conducted by top auction houses this year. In February, Christie’s kicked things off, being the first to host a major NFT sale with the digital artist Beeple’s “Everydays: The First 5,000 Days.” Since then, NFTs have become a somewhat regular feature at fine art auction houses. Most recently, Sotheby’s concluded a sale for a troupe of 101 Bored Apes. The auction closed at $26.6 million, a Sotheby’s record for an NFT sale.
Disclaimer: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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The auction for the digital items of Dolce & Gabbana ’s Collezione Genesi ends tomorrow. From a total of nine pieces, five have a physical and a digital version, which reportedly are wearables that can be used in the metaverse. This is the first high-fashion meets NFTs moment, but it certainly won’t be the last. Besides the competitors that are surely going to pop out soon, Dolce & Gabbana themselves are planning a whole lot more in the space.
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But, let’s not get ahead of ourselves. Theofficial auction sitedescribes the collection as:
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“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that involves both digital and physical works, truly bridging the physical and the metaphysical.”
The legendary fashion brand, Dolce & Gabbana, is working alongside UNXD, who describe themselves as “a curated marketplace for the best of digital culture.” They inform us that “All pieces were personally designed by Domenico Dolce and Stefano Gabbana exclusively for UNXD.” Here’s a phenomenal video showing the nine available items, but, make sure to notice that since it was published the bids have doubled up. And the number will probably increase tomorrow.
.@dolcegabbana’s Genesi collection already has $1M+ in bids, 5 days before the end of the auction! 🔥
The collection is amazing and sets new standards in many ways.
Bidding is live at https://t.co/yy33o56Vxs; powered by @0xPolygon so everything is fast and there are no fees. 💫 pic.twitter.com/hdeJ8qjMJC
— Mihailo Bjelic (@MihailoBjelic) September 25, 2021
Also, notice that the tweet comes from Polygon’s co-founder Mihailo Bjelic. The Dolce & Gabbana ’s NFTs live on the Polygon network.
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Dolce & Gabbana Hits First And Hits Hard
Even to the casual observer, it’s obvious that Dolce & Gabbana ’s Collezione Genesi is a well-thought-out project. Their advisors knew what they were doing. As we said, the NFTs come with a digital wearable piece. They also include a handmade sketch of the piece, and, more importantly, access to a community.
As NewsBTC established when analyzingGary Vee’s Christie’s auction, community and access might be as important as the art when it comes to NFTs. The Dolce & Gabbana team obviously understands that, so they’re offering two crucial items with their genesis collection. 1.- A 3-day pass to Dolce & Gabbana ‘s “Alta Moda couture,“ the brand’s own biggest event for next year. The pass includes access to all the shows and parties. Plus, a private atelier tour. 2.- Membership to the DGFamily NFT community.
For a better explanation of that last item, let’squote UNXD:
“Dolce & Gabbana will next roll out the #DGFamily NFT community. 4 exclusive levels, including an ultra-exclusive gold level whose inaugural members will be the winners of this Genesis auction. A similar approach to digital + physical + experiential access.”
So, this auction is the first step in a journey of a thousand miles, so to speak. Dolce & Gabbana is all in on the NFT space.
1/8 The bids for the magnificent @dolcegabbana’s NFT collection have reached $2M+! 🔥
This game-changing collection offers items, utilities and experiences that have never been seen in the NFT world before! 💫
The auction for the four digital items ends tomorrow.
A quick 🧵 pic.twitter.com/O6lwIudCXd
— Mihailo Bjelic (@MihailoBjelic) September 27, 2021
High Fashion And NFTs Belong Together
When our sister site Bitcoinistannounced Dolce & Gabbana ‘s NFT collection, they made a great point:
“What’s more, high fashion and acquiring expensive items is not about necessity. Rather, it caters to being part of the luxury culture and communicating status. In many ways, NFTs also fit this bill, in that, they too have become indicative of status.”
However, for the fusion to succeed, there needs to be a landmark case. A moment that makes everyone involved see the light. Is this Dolce & Gabbana collection it? Well, it mixes the crypto universe with the real world and it’s backed by a legendary brand, but, is that enough?
1/
Bids on the @DolceGabbana x UNXD collection have already crossed 500 ETH (~$1.5M). This collection took an insane 16,000 hours of collective time to create, and the offer is unrivaled (digital, physical, experiential). What makes it so historic? 🧵👇https://t.co/DJnXW8YW5j
— UNXD (@UNXD_NFT) September 26, 2021
According to UNXD, the collection took the creators “an insane 16,000 hours of collective time.” It consists of “9 one-of-a-kind pieces that will never be made again.” So, you know?, it’s rare. Also, “Many of the pieces used creation techniques that are only known by a handful of people alive today. This is museum-grade work.” To top it all off, they promise, “These pieces look and “feel” real and will change how people think of digital assets.”
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That sounds incredible, but, it also opens a question. In what metaverse will they be wearable, exactly? Which one of your digital avatars will you be able to crownwith “The Impossible Tiara”or“The Doge Crown”?
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