Christie’s ‘No Time Like Present’ Auction Expected to Mark NFT Milestones

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In Brief
  • "No Time Like Present" will be the first NFT auction in Asia hosted by an international auction house.

  • Certain creations being sold at the auction have never been available outside of NFT trading platforms before.

  • The collection includes Yuga Labs' Bored Ape Yacht Club and Larva Lab's new creation, Meebits.

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Auction giant Christie’s hopes to set several milestones in crypto art history with its upcoming “No Time Like Present” auction.

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The auction, scheduled to begin on September 17, will be based from Hong Kong, running for 11 days. This is special not least because, according to Christie’s themselves, the event will mark the first time an international auction house has ever made a non-fungible token (NFT) sale in Asia.

Furthermore, it will be the first time that some of the artworks have been offered outside of an NFT trading platform. Namely, Meebits, the latest creation to come out of Larva Labs. “No Time Like Present” will also be the auction house debut for Yuga Labs’ Bored Ape Yacht Club (BAYC).

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The sale will also include a group of Larva Labs’ rare CryptoPunks. These unique artworks, created by Larva Labs co-founders Matt Hall and John Watkinson, have made appearances at Christie’s auctions before. Back in May, the auction house sold off a limited collection of 8-bit-style CryptoPunk portraits in New York. Reports later revealed that the proceeds from the series of nine NFTs totaled just shy of $17 million.

Christie’s NFT love story

It’s no real secret how NFTs have risen in the crypto space this year. Christie’s was the first auction house to embrace them, and having been hitting milestones ever since. Their sale of a Beeple NFT, which took place back in March and fetched in excess of $65 million, reportedly remains unbeaten. In preparation for that sale, the auctioning giant started accepting Ether (ETH) as a payment option.

More recently, Christie’s sold off an NFT collection from their youngest artist ever. FEWOCiOUS, whose real name is Victor Langlois, was 18 years old when they sold their collection entitled “Hello, I’m Victor (FEWOCiOUS) and This Is My Life” with Christies, at the beginning of July. Each lot in the collection represented a year in the creator’s life between the ages of 14 and 18. The entire series sold for a total of $2.16 million.

Later that month, the auction house hosted their Art + Tech Summit in New York. They kicked it off with a panel entitled “NFT @ Christie’s: Finding Value in the Unknown.” Christie’s cataloger Meghan Doyle, TRON’s Justin Sun, art collector Ronnie Pirovino and artists Mad Dog Jones and Micah Johnson all served on the panel.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

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