Worlds Top Art Auction House Opens NFT Platform

Estimated Read Time: 5 min

Hey friends,

Welcome back to this round-up of the latest NFT news. Over the past couple of days we have curated the most influential NFT stories covering brands like NIKE and Jack Daniels, so let's just jump into it!

Christie's Launching An NFT Auction House For Traditional Art

You may know Christie's from the $69.3 million sale of Beeples “Everyday's” NFT last year, but now they are looking to dive deeper into Web 3.0 with the announcement of Christie's 3.0.

For some background, Christie's is a British auction house founded in 1766 that has grown a world-renowned reputation for sales of the most exclusive and expensive art pieces the world has to offer, with over $4 billion in sales for just the first half of 2022 alone (Artnet, 2022). Christie’s director of digital art sales Nicole Giles, says “Christie’s 3.0 is an on-chain auction platform dedicated to exceptional NFT art. Whether you’re new to NFTs or already a committed member of the community, discover and bid on exclusive drops curated by Christie’s”.

An aim for Christie's 3.0 was to offer a truly decentralized, transparent experience where all auctions take place on the public Ethereum blockchain from start to finish. In the announcement, Christie's also said “By incorporating regulatory tools, such as anti-money laundering and sales tax, we have built an inclusive solution where both veteran and new NFT collectors can feel secure in transacting with Christie’s 3.0”.

Christie's 3.0 is live right now with a nine-piece collection from Diana Sinclair starting at 4ETH. Although we are still so early into Web 3.0 and NFTs, the fact that such a well-respected auction house is already utilizing NFTs highlights how seriously the traditional art world is taking the new technology.

What Is Jack Daniels Doing With NFTs?

Jack Daniel’s Tennessee Whiskey Co is known across the globe for being the best-selling whiskey brand in the world, and now they aim to transition that reputation into Web3. An intellectual property trademark attorney Mike Kondoudis, shared Jack Daniels's recent application for three metaverse and NFT trademarks through the United States Patent and Trademark Office. The patent shown in the picture above tells us that Jack Daniels is looking to utilize NFT-authenticated media, including artwork, text, audio, and videos related to the beverages. According to Mike, this will also see downloadable virtual goods, including virtual beverages, barware, clothing, digital wallets, and collectibles. Although the brand hasn't officially announced its move into NFTs, whether these patents reveal an upcoming collection or the potential for virtual whiskeys a decade down the line, one thing for sure is this marks yet another infamous brand joining a growing list to solidify its presence in the inevitable world of Web3.

NIKE Reveals Sneak Peak Of Real-Life NFT Sneakers

A couple of editions ago, we covered how the shoe brand NIKE topped the charts as the highest-earning brand from NFTs, hitting a huge $185 million in revenue from over 67,000 NFT transactions. One thing that boosted Nike's transition to Web3 was back in December when they acquired Utah-based NFT company RTFKT for an undisclosed sum. On the investment, NIKE CEO John Donahoe said “This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture”.

Since then, we have seen the first RTFKT x NIKE NFTs through the 13.4k item CRYPTOKICKS collection, trading for 0.5 ETH at the time of writing. Now we understand the context, let's get to the juice of this story; NIKE’s RTFKT Studios have just released a sneak peek of the first look at the real-life CRYPTOKICK sneakers, which will likely only be available to holders of CRYPTOKICK NFTs. Although the shoe looks to boast cool tech like its being able to self-lace, it has not been received well by the community with one Twitter user saying “This ain’t it. These are Nike adapts basically. No sneakerhead is wearing those. And this is mad confusing for anyone who bought cryptokicks dunks. Cause this ain’t a dunk and it’s being labeled as cryptokicks. Pretty disappointed”. Despite this, the world's largest shoe brand looking to Web3-ify its brand with both virtual and real-life shoes is an interesting concept that is no doubt pushing the boundaries of NFT technology.

We're super happy to have you on this round-up, have an awesome couple of days and we will see you on the next edition of Morning NFTea!

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