Sotheby’s 3AC NFT Sale earned $10.9M, with ‘The Goose’ selling for $6.2M.

On Thursday, Sotheby’s held another auction of non-fungible token (NFT) artwork that had been seized from the bankrupt crypto hedge fund Three Arrows Capital (3AC). The auction, which took place in New York, brought in over $10.9 million in sales and included pieces from the “Grails” collection. The collection featured 37 works from generative artists such as Dmitri Cherniak, Tyler Hobbs, Jeff Davis, and others.

One of the highlights of the auction was Dmitri Cherniak’s Ringers #879, also known as “The Goose,” which was estimated to sell for $2-3 million. However, it ended up selling for $6.2 million to NFT investor 6529, making it the second-highest sale of generative art ever. Other notable works from the auction included Tyler Hobbs’ Fidenza #479, which sold for $622,300, Snowfro’s Chromie Squiggle #1780, which sold for $635,000, Larva Labs’ Autoglyph #218, and Kjetil Golid’s Archetype #397, both of which sold for $330,200 each. All the NFTs in the auction sold for higher than their estimates.

The Grails collection was assembled by Three Arrows Capital as part of its asset portfolio in 2021. The hedge fund filed for bankruptcy in July, and its liquidator Teneo has been selling off the NFTs to recoup funds. Sotheby’s multi-part sale of NFTs from the Grails collection has so far brought in over $16 million. Sotheby’s has described the collection as containing “some of the most significant digital artworks ever assembled.”

The upcoming Sotheby’s sales are not related to Starry Night Capital’s NFT portfolio, which was set up by 3AC in partnership with NFT collector Vincent Van Dough in August 2021.

Edited by Toby Leah Bochan.

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