This lucrative deal underscored the growing mainstream acceptance and value of digital art and NFTs.
A non-fungible token (NFT) artwork known as "The Goose" by Dmitri Cherniak was auctioned off for an impressive sum surpassing $6 million at Sotheby's prestigious auction house.
This marked the successful conclusion of a sale that saw a digital masterpiece from the now-defunct crypto hedge fund, Three Arrows Capital (3AC), netting a fortune. With Sotheby's premium charges, the total sales figure was a little above the $6.2 million mark.
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"The Goose" was an integral part of 3AC's eclectic digital collection, created in 2021. It is noteworthy that the piece was initially purchased by 3AC co-founders Su Zhu and Kyle Davies in August 2021 for 1,800 Ether (ETH), worth approximately $5.8 million.
During the June 15th auction, a range of other pieces from the same portfolio were also under the hammer at Sotheby's. This diverse assortment included CryptoPunks #6574, #8950, and #291 and Larva Labs' Autoglyph #218. The selling prices of the Punks, as per social media updates, spanned from $75,000 to $90,000 each.
Sotheby's foray into digital artwork and NFTs dates back to 2021, when they launched a dedicated marketplace catering to this innovative art form. In May 2023, the company rolled out the on-chain marketplace for secondary non-fungible token (NFT) sales.
The auction house is known to have facilitated the sale of numerous crypto-related artworks that have attracted considerable sums, reinforcing its position in the field. An NFT of the inaugural tweet by Twitter's ex-CEO, Jack Dorsey, and the original manuscript of the book that gave us the term 'Metaverse' are among the notable items that have been sold on Sotheby's auctions.
The sale of "The Goose" displays the booming popularity and hefty price tags associated with NFTs and digital artwork. This trend seems to suggest a promising and prosperous future for digital art within the traditional art market framework.
