Part of this negativity was as a response to the gross financialization and speculation around these tokens, and environmental concerns that have since basically been resolved by Ethereum's switch to proof-of-stake in 2022.
Christie's auction house made history with the $69 million sale of Beeple's 'Everydays' collage in 2021, expanding into NFT auctions, investments in Web3 firms via Christie's Ventures, and launching its own NFT marketplace, Christie's 3.0.
"Slowly but surely people are getting very interested. The market has matured quite significantly since the boom in 2021 when Christie's first got involved. We don't take our responsibility lightly." - Nicole Sales Giles, Christie's Director of Digital Art Sales
Christie's is venturing further into NFT territory with the auction of inscriptions, NFT-like tokens on Bitcoin, signaling potential staying power for these objets d'art, which could mark a turning point for Ordinals Protocol as well.
This is a meaningful statement from Sales Giles, who was instrumental in setting up Beeple's auction that first brought public attention to NFTs.
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