• Sotheby’s second 3AC NFT Sale concluded on Thursday, bringing in over $10.9 million in sales.
• The sale included pieces from the “Grails” collection, with Ringers #879 (often referred to as “The Goose”) selling for a record-breaking $6.2 million.
• 6529, a notable NFT investor, purchased “The Goose” for its cultural significance within the NFT community and its historic journey through key moments in NFT history.

Sotheby’s Second 3AC NFT Sale Nets $10.9M

On Thursday, Sotheby’s concluded another sale of non-fungible token (NFT) artwork seized from bankrupt crypto hedge fund Three Arrows Capital (3AC), bringing in over $10.9 million in sales. The live auction took place in New York and included pieces from the “Grails” collection.

‘The Goose’ Alone Netting $6.2M

Highlights from this lot included Dmitri Cherniak’s Ringers #879 (often referred to as “The Goose” for its resemblance to the bird), estimated to sell for $2-3 million but ending up selling for an impressive $6.2 million to notable NFT investor 6529. This is now the second-highest sale of all time for a work of generative art!

Background on ‘The Goose’

3AC co-founders Su Zhu and Kyle Davies had purchased “The Goose” in August 2021 for about 1,800 ETH – worth roughly $5.8 million at the time – making it one of the most significant works from the generative art movement according to Michael Bouhanna, Sotheby’s head of digital art and NFTs.

Significance of ‘The Goose’

In a statement following the purchase, 6529 said that The Goose held cultural significance within the NFT community: “On-chain long form generative art is an act of faith by the artist and minter… The Goose has had a historic journey so far through key moments in NFT history and I suspect its journey has just begun.”

Other Highlights From Sale

Other highlights included Tyler Hobbs’ Fidenza #479 which sold for $622,300 and Snowfro’s Chromie Squiggle #2793 which sold for nearly double its estimate at $500K+. All together these 37 works made up Sotheby’s second 3AC NFT Sale which netted an impressive total of nearly 11 million dollars!