Last June, Sotheby’s achieved a groundbreaking sale of over $6.2 million for the cryptoart “The Goose”. This generative work of blockchain art, by Dmitri Cherniak, captivated NFT enthusiasts and attracted attention for its unique story and artistic value.
Cryptoart breaks records! At an auction organized by Sotheby’s, the artwork “The Goose”, also known as Ringers #879, created by Dmitri Cherniak, stood out. At the hammer, “The Goose” fetched $5.4 million, for a final sale price of $6,215,100, all fees included. This sale marks a milestone in the world of blockchain and NFT art.
#AuctionUpdate: One of the most important works of post-blockchain generative art,@dmitricherniak’s Ringers #879 (The Goose) has just sold for $6.2 million, making it the 2nd highest generative art sale of all time. #SothebysGRAILS https://t.co/dKyqxGbAIZ pic.twitter.com/zkxoP21M9e
— Sotheby’s Metaverse (@Sothebysverse) June 15, 2023
Initially, Sotheby’s estimated that the work would sell for between $2 and $3 million. Exceeding all expectations, the final bid far exceeded the previous sale price of 2021. This record-breaking sale marks a milestone in the world of blockchain and NFT art.
Prominent NFT art pseudo-collector Punk6529 is said to be the buyer.
— 6529 (@punk6529) June 15, 2023
“The Goose has had a historic journey so far, through some key moments in NFT history, and I think its journey is just beginning”, he said in a statement.
A special story
“The Goose” has an interesting history. The now-defunct crypto-currency hedge fund Three Arrows Capital had previously acquired it in 2021. Three Arrows Capital had made headlines by purchasing the artwork for the exorbitant sum of $5.66 million.
Following the bankruptcy of Three Arrows Capital last summer, the fund’s liquidators were given the responsibility of settling the company’s debts. They entrusted Sotheby’s with the task of assembling a collection entitled “Grails” from the Starry Night fund, which included the artwork “The Goose”. The aim of the fund was to bring together a collection of NFT from around the world.
Record sale for a remarkable work
The Goose” occupies a special place in the generative art community. It illustrates the fascinating mix of chance and skill involved in creating works of art from random computer code. As a generative work of art, its visual outcome is determined by random algorithms at the moment it is struck as an NFT.
Ringers #879 aka The Goose by @dmitricherniak sold for $5.4m at @Sothebys Grails auction live in NYC! pic.twitter.com/QtlATQ0GNx
— Garrett Skrovina (@GSkrovina) June 15, 2023
“The Goose” captivated collectors and art lovers with its complex combination of shapes and colors. The result was a striking resemblance to a goose, hence the work’s name.
The record sale of “The Goose” highlights the growing demand and value of blockchain-generated artworks. Furthermore, this historic transaction signifies the growing recognition of the intersection between art and technology in the NFT space.
A total of 37 works by generative artists such as Dmitri Cherniak, Tyler Hobbs, Jeff Davis were sold at the auction. Almost all the NFTs in the sale were sold for more than their estimate. To date, liquidation sales from the Grails Collection have brought in nearly $17 million.
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Featured photo : © Sotheby’s
