British auction house Christie’s launches investment fund Christie’s Ventures, which is focused on Web3 projects related to art objects and technologies for their consumption.
The Fund will work with portfolio companies to accelerate their development and at the same time promote their activities in the field of art sales. The auction house will focus on three areas: Web3 innovation; art-related financial products; as well as technologies for their consumption.
Christie’s also announced the creation of its first portfolio company, LayerZero Labs. The company aims to unite the cross-chain developer community to create decentralized applications that can freely interact with different blockchains.
According to auction house co-founder and CEO Bryan Pellegrino, the company is ready to start working with the team to jointly create innovative products aimed at interoperating with multiple blockchains.
Christie’s Ventures does not plan to create something fundamentally new – the fund will improve existing developments, as well as focus on solving real business problems and improving the quality of customer service. The company is betting heavily on the arts market, so new NFT projects are to be expected.
The auction house previously partnered with the popular NFT trading platform OpenSea, in which Christie’s experts will oversee special auctions.
Source: Bits
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