Connect with us

Coin Market

Christie’s launches venture fund aimed at Web3 and blockchain investments

Published

on

According to the auction company, its first investment will be in LayerZero Labs, a company developing solutions for enabling omnichain decentralized applications.

Christie’s, the auction house known for its sales of art and luxury items, has launched an investment fund to support emerging companies with technology enabling “seamless consumption of art.”

In a Monday announcement, the auction company said the fund, Christie’s Ventures, will financially support firms in Web3, “art-related financial products and solutions,” and technology related to art and luxury goods. According to Christie’s, its first investment will be in LayerZero Labs, a company developing solutions for enabling omnichain decentralized applications, allowing a more seamless transfer of assets between blockchains.

“We 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,” said Christie’s Ventures global head Devang Thakkar.

Related: Christie’s NFT expert to lead CryptoPunks, fake heiress launches NFT collection

The move into blockchain-related investments represented another step for Christie’s to support ventures in the crypto space. In 2021, the company hosted an auction for a piece of nonfungible artwork from Mike Winkelmann, also known as Beeple, raising more than $69 million. Since then, it has held several high-profile sales for NFT artwork and partnered with the OpenSea online marketplace for on-chain auctions.

2022 is shaping up to be a record year for blockchain-related venture funding. As Cointelegraph reported, blockchain- and crypto-focused firms raised $14.8 billion in the first quarter of the year, nearly half of 2021’s totals. Although activity has waned due to the bear market, startups with a focus on Web3 and the Metaverse continue to attract significant capital.

Coin Market

3 reasons why Solana price is on the verge of new all-time highs

Published

on

By

Surging activity in onchain and derivatives metrics suggests that Solana’s bullish momentum is set to continue. 

Continue Reading

Coin Market

SEC chair doubles down on crypto stance under threat of Trump ousting

Published

on

By

Gary Gensler did not say he would leave the SEC before Donald Trump took office but pointed to the commission’s record on crypto enforcement and approving ETFs.

Continue Reading

Coin Market

FBI tokens, AI tokens and crypto wash trades: Crypto lawyers weigh in

Published

on

By

Did the FBI token infringe copyright rules? Who should be responsible for AI agents and their crypto activities? Crypto lawyers weigh in.

Continue Reading

Trending