Snow

Read

<p class="is-style-lead">The &#8220;Grails&#8221; non-fungible tokens, created by failed crypto hedge firm Three Arrows Capital, will soon be available for acquisition at Sotheby&#8217;s auction.</p>



<p>Sotheby&#8217;s has announced its plans to facilitate the auction of 37 &#8220;Grails&#8221; NFTs next month, promoting it as the &#8220;most extensive live auction of digital art ever witnessed.&#8221;</p>



<p>The auction house aims to generate revenue exceeding $5 million, setting a remarkable precedent in this burgeoning market.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">The BIGGEST NFT SALES from The Sotheby&#39;s 3AC Auction <a href="https://t.co/ckYtZZ05k6" target="_blank">pic.twitter.com/ckYtZZ05k6</a></p>&mdash; Philip Kalinko🎙 (@PhilipKalinko) <a href="https://twitter.com/PhilipKalinko/status/1663892704797794306?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 31, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Adding an air of intrigue to the event, the previous possessor of these NFTs remains shrouded in mystery, being a prominent figure within the crypto venture capital and trading sphere. Its assets experienced a dramatic downturn last year. These NFTs were seized as part of the bankruptcy proceedings that commenced in July.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/sothebys-announces-launch-of-an-nft-marketplace/" class="cn-block-related-link__link">
            Sotheby’s announces launch of an NFT marketplace        </a>

    
</div>


<p>Sotheby&#8217;s will present <a href="https://crypto.news/learn/a-step-by-step-guide-to-buying-and-selling-nfts-on-opensea/">NFTs</a> created by renowned generative artists, including Dmitri Cherniak, Tyler Hobbs, and Larva Labs, enriching the collection with their exceptional artistic contributions.</p>



<p>It has been stated by Sotheby&#8217;s that this unparalleled assortment pays homage to the distinguished artists who played a pivotal role in propelling NFTs and digital art into the cultural mainstream, showcasing their groundbreaking and conceptually innovative approaches to digitally native artistic expression.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="How NFT Auction Websites Work" width="1020" height="574" src="https://www.youtube.com/embed/bnuY4pEOIA4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>Following the sale of seven &#8220;Grails&#8221; pieces earlier this month, another auction is scheduled for June 15. The following collection of NFTs fetched a remarkable $2.5 million at Sotheby&#8217;s auction, with Tyler Hobbs&#8217; Fidenza #725 taking center stage.</p>



<p>The director of digital art and NFTs at Sotheby&#8217;s, Michael Bouhanna, has expressed that the Grails collection has long commanded admiration and respect within the digital art realm, further underscoring the exceptional nature of these remarkable artworks.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/sothebys-to-auction-snow-crash-manuscript-that-first-mentioned-metaverse/" class="cn-block-related-link__link">
            Sotheby’s to auction Snow Crash manuscript that first mentioned metaverse        </a>

    
</div>

Sotheby’s to auction failed 3AC’s NFT collection

crypto.news

Other articles published on Jun 1, 2023

Bitcoin: Bullish season emerging despite the decline!

Singapore’s MAS grants license to Crypto.com

TRON Blockchain Sets New Record with 10.9 M Daily Transactions

7 Signs That Can Make Cardano Unstoppable

Avalanche reaches 1 Million Monthly Active Users

Fantom Introduces Gas Monetization Program to Empower Developers

Join our free newsletter for daily crypto updates!