Popular British auction house Christie's has just announced it has launched a venture capital fund focused on technology companies developing art products.
Christie's Ventures team will reportedly initially focus on three areas: web3, art-related digital financial products and solutions that provide "seamless interaction with art objects."
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According to the initiative, the fund's first investment has been received by LayerZero Labs, a firm that is developing a cross-chain protocol.
This is not the first time Christie's has actively interacted with the digital art segment. For example, in March last year, some NFTs by the artist Beeple were sold at auction for $69.3 million, and in May nine NFTs from the CryptoPunks collection were sold.