Christie's launches venture fund, makes first investment in web3 company

Quick Take

  • Christie’s has launched a venture fund to make investments that “enable seamless art consumption.”
  • The first investment will be in a blockchain interoperability startup called LayerZero Labs. 

Christie's, the renowned British art and luxury business, has launched an investment fund that will aim to support emerging technology and fintech companies related to the art market.

The new fund, called Christie's Ventures, will initially focus on three areas: web3 innovation, financial technology related to art, and other solutions that "enable seamless consumption of art," according to a statement from the company. 

The venture arm's first investment is in LayerZero Labs, an interoperability protocol that makes moving assets between different blockchains easier for clients. The company did not reveal the size of the venture fund or how much it will invest in LayerZero Labs. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

"We will focus on products and services which can solve real business challenges, improve client experiences, and expand growth opportunities, both across the art market directly and for interactions with it," Devang Thakkar, Global Head of Christie's Ventures, said in a statement. 

This is far from Christie's first foray into web3 and crypto. In March of 2021, the platform auctioned off its first non-fungible token (NFT) art piece, which was created by the artist Beeple, for $69 million. Since then it has held a number of additional NFT auctions. In December, the company partnered with NFT marketplace OpenSea to curate Christie's first on-chain NFT auction.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Anushree covers how U.S. businesses and corporations are moving into crypto. She has written about business and tech for Bloomberg, Newsweek, Insider, and others. Reach out on Twitter @anu__dave