Kresus, a well-known crypto wallet provider, has partnered with the prestigious auction house Christie’s to revolutionize how art collectors verify and maintain ownership of their collections. This groundbreaking collaboration aims to introduce blockchain-based certificates of ownership for over 130 lots in the upcoming Christie’s sale titled “An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina,” scheduled for October 2 at Christie’s Rockefeller Center.
The introduction of these digital certificates by Kresus will provide collectors with secure and immutable records of ownership for each of the 132 lots being sold at the auction. These Certificates of Ownership will be created on the Base blockchain, ensuring a tamper-proof and transparent record of ownership that can be conveniently accessed through the Kresus wallet.
Trevor Traina, the founder of Kresus, emphasized the benefits of blockchain technology in simplifying the management of provenance and documentation for art collectors. He highlighted the challenges of traditional paper-based record-keeping and emphasized how this partnership with Christie’s showcases the transformative power of technology in enhancing the collector experience.
The collection curated by Ambassador Traina focuses on mid-century themes, with a special emphasis on female photographers and the evolution of color photography. The auction will feature works created post-World War II and contemporary masterpieces by renowned artists such as Diane Arbus, William Eggleston, Robert Frank, and Cindy Sherman.
Christie’s commitment to innovation is evident in this pilot program, which represents a significant step towards integrating blockchain technology into the art world. By linking physical artworks with digital certificates of ownership, the initiative aims to enhance transparency and security in art transactions. The collaboration between Christie’s and Kresus underscores the auction house’s dedication to authenticity and transparency in the art market.
Nicole Sales Giles, Vice President and Director of Digital Art Sales at Christie’s, expressed excitement about the pilot program and emphasized its alignment with Christie’s core values of authenticity and transparency. The introduction of blockchain-based certificates of ownership is seen as a natural evolution of Christie’s ongoing efforts to ensure trust and integrity in art transactions.
In a previous auction held in May, Christie’s set a record by selling a lifetime print of Diane Arbus’s iconic photograph “Identical Twins, (Cathleen and Colleen), Roselle, New Jersey, 1966” for $1.2 million. This success further underscores the market’s appetite for high-quality artworks with provenance and authenticity.
In conclusion, the partnership between Kresus and Christie’s represents a significant milestone in the art world’s adoption of blockchain technology. By offering secure and transparent records of ownership through digital certificates, collectors can now enjoy a more streamlined and trustworthy art collecting experience.