Christie’s expects its upcoming “No Time Like Present” auction to set several milestones in crypto art history.
The auction, which is set to begin on September 17 and will last 11 days, will be based in Hong Kong. This is significant not least because, according to Christie’s, it will be the first time an international auction house has ever sold a non-fungible token (NFT) in Asia.
Furthermore, some of the artworks will be offered for the first time outside of an NFT trading platform. Meebits, the most recent invention from Larva Labs. Yuga Labs’ Bored Ape Yacht Club will also make its auction house debut at “No Time Like Present” (BAYC).
A selection of Larva Labs’ rare CryptoPunks will also be available for purchase. These one-of-a-kind works by Larva Labs co-founders Matt Hall and John Watkinson have previously appeared at Christie’s auctions. In May, the auction house in New York sold a limited collection of 8-bit-style CryptoPunk portraits. According to later reports, the proceeds from the series of nine NFTs totaled just under $17 million.
Christie’s love story with NFT
It’s no secret that NFTs have risen in popularity in the crypto space this year. Christie’s was the first auction house to embrace them, and they have continued to set records ever since. Their sale of a Beeple NFT in March, which fetched more than $65 million, reportedly remains unrivaled. In preparation for the sale, the auctioning giant began accepting Ether (ETH) as a form of payment.
Christie’s recently sold an NFT collection from their youngest artist ever. FEWOCiOUS, real name Victor Langlois, was 18 years old when they sold their collection “Hello, I’m Victor (FEWOCiOUS) and This Is My Life” to Christies in early July. Each lot in the collection represented a year in the life of the creator between the ages of 14 and 18. The entire series was sold for $2.16 million.
Later that month, in New York, the auction house held their Art + Tech Summit. The event began with a panel discussion titled “NFT @ Christie’s: Finding Value in the Unknown.” The panel included Christie’s cataloger Meghan Doyle, TRON’s Justin Sun, art collector Ronnie Pirovino, and artists Mad Dog Jones and Micah Johnson.