Digital art connoisseurs will soon get a chance to purchase the blue-chip, non-fungible tokens from the "Grails" collection that once belonged to the now-defunct crypto hedge fund Three Arrows Capital.
Sotheby’s will auction off 37 “Grails” NFTs next month, with the auction house calling the event the "largest ever live auction of digital art." It expects sales to exceed $5 million dollars.
The NFTs up for auction have become the subject of additional intrigue thanks to their previous owner, the once major crypto venture capital investor and trading shop that collapsed in a spectacular fashion last year. The NFTs were seized as part of the bankruptcy process that began in July.
Sotheby’s said the sale will feature NFTs created by well-known generative artists including Dmitri Cherniak, Tyler Hobbs and Larva Labs.
“This unparalleled collection celebrates the prominent artists who helped bring NFTs and digital art to the cultural mainstream through their innovative and conceptual approaches to the creation of digitally native art,” Sotheby’s said in a statement.
The June 15 auction follows a sale of seven “Grails” works earlier this month. Sotheby’s auctioned off the smaller batch of NFTs, which included Tyler Hobbs’ Fidenza #725, for a total of $2.5 million.
"The Grails collection has long been renowned throughout the digital art world," said Michael Bouhanna, Sotheby's head of digital art and NFTs.
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