Is Blockchain The Right Solution For The Auction Houses?

Forbes, by Elena Zavelev, Founder & CEO, New Art Academy & CADAF

 AFP/Getty ImagesDON EMMERT/AFP/GETTY IMAGES

AFP/Getty ImagesDON EMMERT/AFP/GETTY IMAGES

The art world witnessed an extraordinary auction on November 13th at the Christie’s Auction House in New York. Not only the collection of the late Barney A. Ebsworth raised over $300 million, setting the new world auction records for Edward Hopper and Willem de Kooning, but also for the first-time-ever, the results of the major auction sale were recorded using blockchain technology. To do so, Christie’s has collaborated with Artory, the leading independent blockchain-based registry for the art market built on Ethereum Blockchain. Continue Reading