The renowned auction house Sotheby’s has organised a new auction of generative artworks in the form of non-fungible tokens (NFTs). The main lot was “The Goose”, an NFT formerly owned by the defunct hedge fund Three Arrows Capital (3AC), and bought back for $6.2 million by CryptoPunks 6529, a well-known member of the NFT community.
The 2nd most expensive generative NFT in the world
The non-fungible token (NFT) Ringers 879 by artist Dmitri Cherniak recently sold at auction for an impressive $6.2 million. The sale took place at a live auction in New York, organised by the prestigious auction house Sotheby’s, and was a great success despite the gloomy state of the market.
6529, a well-known figure in the community. Following the sale, Sotheby’s announced that it was the second highest sale ever for a work of generative art
– 6529 (@punk6529) June 15, 2023
In a recent statement, investor 6529 said that The Goose has cultural significance within the NFT community, not least because of the uniqueness of its execution process:
“Generative art on the blockchain is a leap of faith on the part of the artist and the miner. Once the algorithm is integrated into the blockchain, no one knows what results it will produce. The Goose represents this more clearly than any generative NFT. We could have run the Ringers algorithm thousands of times without producing anything like it. The Goose has had a historic journey so far, through some key moments in NFT history, and I think its journey is just beginning. “
Sotheby’s sales to date of the Grails Collection as part of the liquidation of works held by 3AC have raised nearly $17 million.
