Renowned auction house Christie’s is launching its very own Web3 venture capital fund as it aims to grow its presence in the digital asset space. The house boldly stepped into the Web3 scene when artist Mike Winkelmann, aka Beeple, sold his NFT “EVERYDAYS” for a record $69M USD at auction. Recently the house has presented works by RTFKT and other popular projects.

?⚔️? Coming soon@RTFKT @takashipom #CLONEX #RTFKT #Takashimurakami #paralleluniverse #NFT pic.twitter.com/CQgDyjO5En

— Christie’s (@ChristiesInc) May 11, 2022

The new fund, Christie’s Ventures, aims to provide support in the Web3 space through investment and expert guidance. Its mission is to particularly focus on Emerging Technology and FinTech companies that have relevance to the art market. Other objectives of the fund include advancing the house’s own activities in the presentation, education, and sales of Fine Art and Luxury Goods.

“As a global leader in the art market, Christie’s has both an incentive and a responsibility to further innovation and deepen experiences for our clients,” said Christie’s Chief Operating Officer Ben Gore, adding that “the intersections of technology and financial products are increasingly relevant and prevalent, and we believe strongly in the opportunities ahead.”

The fund’s first portfolio company is LayerZero Labs, a cross-chain interoperability company. LayerZero works to make the experience of moving assets between blockchains more accessible.

“LayerZero is incredibly thrilled to partner with Christie’s Ventures,” said the platforms Co-founder and CEO Bryan Pellegrino, adding that “we’ve seen firsthand how Christie’s has been on the forefront of web3 and a pioneer in the space. We look forward to working with their team to find new and innovative ways to create the most accessible, frictionless experience with assets indexed over multiple blockchains.”

At the time of writing no other partnerships have been announced by the fund, however, it is expected there will be news following its most recent Art+Tech Summit, which premieres in New York on July 19 and 20.

Elsewhere in Web3, Azuki Twin Tiger NFT can now be redeemed for a physical jacket.