"Goose" from 3AC's NFT collection was sold at a Sotheby's auction for $6.2 million
"Golden Goose" from the NFT collection of crypto fund Three Arrows Capital was sold at auction at Sotheby's for $6.2 million
The most expensive digital work of art from the bankrupt hedge fund's collection of tokens went under the hammer for twice as much as expected
NFT called Ringers #879, or The Golden Goose, from the GRAILS collection of bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) sold at auction at Sotheby's for $6.2 million.
The digital piece by Canadian Dmitry Chernyak was bought by hedge fund 3AC for 1.8 thousand ETN ($5.6 million at the time of purchase) in August 2021. It was the most expensive NFT in the fund's collection.
According to Decrypt, the auction house expected the Goose to sell for $2-3 million, but the NFT went under the hammer for $5.4 million. Including commissions, the total was over $6.2 million.
The NFT collection assembled by the 3AC is up for sale as the fund's liquidators try to raise funds to reimburse creditors. It suffered losses during the collapse of the Terra ecosystem and ran into problems after the closure of cryptocurrency lender Celsius Network.
Other notable NFTs from the GRAILS collection sold at auction were Autoglyph #218 by Larva Labs, which sold for $330k, Tyler Hobbs' Fidenza #479 went for $622k, and Fidenza #216 went for $609k. Chromie Squiggle #1780, created by Art Blocks founder Eric Calderon, sold for $635k, more than three times its estimate before the auction.
Earlier, Sotheby's announced that the GRAILS sale series will begin in May and continue throughout 2023.
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