Kresus, an industry-leading cryptocurrency wallet provider, has collaborated with Christie’s to transform the way art collectors prove and manage their ownership. As part of Christie’s esteemed sale, “An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina,” happening on October 2nd at Christie’s Rockefeller Center, Kresus will distribute blockchain-based Certificates of Ownership for more than 130 auction lots for the first time.
As part of this innovative partnership, Kresus will mint unique digital certificates for each of the 132 lots sold at auction. These certificates will serve as an immutable record of ownership on Coinbase’s Base blockchain. By integrating with the Kresus wallet, collectors will have a more contemporary means of authenticating and managing their physical art with easy access to digital Certificates of Ownership.
Trevor Traina, founder of Kresus said:
“Blockchain enables many things. As an art collector, I am well aware of the burden of managing and maintaining provenance and proper documentation- often in paper form and in file cabinets. This partnership with Christie’s exemplifies how technology can enhance the experience for collectors, providing a secure, digital way to manage physical assets. We are excited to launch this initiative and set a new standard for art provenance in the digital age.”
Nicole Sales Giles, VP, Director, Digital Art Sale added:
“At Christie’s, we are always looking for innovative ways to support and elevate the experience of our collectors. Working with Kresus to offer blockchain-based certificates of ownership is a natural evolution of our commitment to authenticity and transparency in the art world. This pilot program is an exciting step forward for the integration of art and technology.”
Aligning physical works with digital certificates to provide transparency and security for art collectors, this pilot initiative signifies a major advancement in the art world’s acceptance of blockchain technology. While Christie’s has given a sneak peek at the photographic collection, Kresus is highlighting the sale’s novel usage of blockchain for Certificates of Ownership.
Recognized artists including Robert Frank, Cindy Sherman, William Eggleston, and Diane Arbus have works from the postwar and contemporary periods up for sale. Topics such as the rise of female photographers and the development of color photography are prominent in Ambassador Traina’s collection, which focuses on the mid-century. For Arbus’s “Identical Twins, (Cathleen and Colleen), Roselle, New Jersey, 1966,” a lifetime print sold at Christie’s in May for $1.2 million broke the previous record.
Secure access to decentralized apps is Kresus’s forte; the platform also offers digital asset management and crypto wallets. In order to help people and organizations confidently traverse the ever-changing web3 landscape, Kresus has integrated state-of-the-art blockchain technology into user-friendly solutions. Kresus is revolutionizing the digital administration of physical assets with its upcoming launch of Certificates of Ownership, which are built on the blockchain.
