Popular crypto wallet Kresus has partnered with the iconic Christie’s auction house to support an upcoming photography auction by issuing NFTs for each lot as tokens that prove ownership.
title “Focus on the Real: Photographs from the Collection of Ambassador Trevor Trainor”Over 130 lots will be auctioned, and Kresus will mint a certificate of ownership for each lot based on the Ethereum Layer 2 blockchain.
The auction will take place today (October 2) at Christie’s Rockefeller Center in the heart of New York City’s Diamond District.
Source: Christie’sHow is Kresus working with Christie’s?
As part of the partnership, Kresus will mint a total of 132 1-of-1 digital certificates—one for each lot sold during the auction—that will help verify the owners of those lots and authenticate each a lot of.
“Blockchain makes a lot of things possible. As an art collector, I’m well aware of the burden of managing and maintaining provenance and proper documentation – often in paper form and filing cabinets,” said Kresus founder Trevor Traina. “This partnership with Christie’s exemplifies how technology can enhance the collector’s experience, providing a secure digital way to manage physical assets.”
Nicole Sales Giles, Vice President and Director of Digital Art at Christie’s, added: “At Christie’s, we are always looking for innovative ways to support and enhance the collector experience. Partnering with Kresus to offer blockchain-based certificates of ownership is our first step towards bringing authenticity to the art world. A natural evolution of the commitment to sex and transparency.
Greenwood, Mississippi (Red Ceiling), 1973 – William Eggleston (b. 1939)What does this mean for art and blockchain technology?
This pilot program is an important step towards ensuring that the modern art market can provide art collectors with the latest transparency and security technology.
The certificate of ownership issued by Kresus will be the focus of the auction – it is hoped that the successful partnership will lead to further collaborations in the future.
The sale features works by artists including Diane Arbus, William Eggleston, Robert Frank and Cindy Sherman A series of postwar and contemporary works, the collection highlights many mid-century themes, such as the prominence of female photographers and the evolution of the photography world.
Want more? Connect to NFT Square
