Christie’s to Hold Auction of Some of the Oldest NFT Art — Priced in Ethereum Only
The decision to enforce the transaction to be in Ethereum, ERC token would be bought or sold. Except, only the auction will be live, for the first time ever.
Christies may be setting the guidelines for the SEC to regulate the NFT market. Especially now since Open Sea, the biggest NFT marketplace by users and daily volume dealing with an Insider trading scandal.
“The digital wallet must be maintained with Coinbase Custody Trust; Coinbase, Inc.; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; or Paxos Trust Company, LLC.”
The great thing about Christies taking these steps is that, now there is an actual process on how to conduct a public NFT auction while abiding by the law.