1stDibs Launches NFT Platform, Introducing Auctions Featuring Group and Solo Exhibitions
1stDibs, a leading marketplace for extraordinary design, has launched an NFT platform, responding to the rapidly growing market for digital artwork. The NFT platform is based on an auction model, which expands on 1stDibs’ core e-commerce site. During the initial phase, the proprietary platform will feature semi-monthly auctions consisting of both group and solo work.
One of their guiding principles is the desire to continually innovate to meet the needs of today’s luxury marketplace. In the last five years, 1stDibs from a listings site to a true e-commerce platform, also expanding inventory categories beyond antiques to include contemporary design, jewelry, accessories and, most recently, art. As a technology leader, the introduction of NFTs to their offering is a natural alignment, and the auction-style platform reflects their investment in the NFT movement and the future of the art market.
