NFT: Christie’s auction house launches ‘Department X’ NFT platform

UK auction house Christie’s has launched its own NFT art platform for streetwear and sneaker collectibles. The company announced the opening of its “Department X”, and for this project, Christie’s 3.0 has partnered with blockchain analytics firm Chainalysis, Spatial metaverse builder and Manifold to sell non-fungible token artworks on Ethereum.

The debut of Christie’s Department X will feature a first sale of digital art created by artists such as Diana Sinclair. The auction company launched its own NFT platform to take advantage of the booming market for digital streetwear, sports history and sneaker collectibles.

Earlier this week, Christie’s said its Department X NFT room has categories exclusive to Air Jordans and Supreme skate decks. People will also find categories for impressionist and modern art and old masters.

Impressionist and modern art will offer artworks from the late 1800s and early 1900s. A variety of art forms such as Surrealism, Cubism and Impressionism will be on sale with masterpieces from world-renowned painters including Picasso, Monet, Matisse, Modigliani, Cézanne and more.

“With its finger on the pulse of popular culture, and the evolution of what is defined as luxury today, Christie’s is proud to announce DEPARTMENT X – Sneakers, Streetwear & Collectibles.

Not easily categorized, Department X offers rare collectibles across a range of genres – music, fashion and sports history,” Christie’s said in a blog post introducing its new collectibles.

The auction house added: “From player-exclusive, game-worn and signed Jordans to rare prototype Yeezys, iconic streetwear and collectibles from brands like Supreme, our team is committed to sourcing outstanding items.”

In recent years, there has been an explosion in popularity of sneakers and digital collectibles, and their value has also increased. In fact, Christie’s sold Michael Jordan items at its “Six Rings − Legacy of the GOAT” auction, and sales from the event reached close to $1.5 million.

In any case, with its Department X unit, the auction house hopes to appeal to younger collectors as it helps redefine the world of collectibles via NFT. CNBC reported that Christie’s NFT platform would sell rare collectibles from music, to sports, to fashion, art and history, but streetwear and sneakers would be the biggest category.