Own a piece of digital art history with Sotheby’s GRAILS Collection | NFT CULTURE | NFT News | Web3 culture
Sotheby’s has announced a series of auctions through 2023 that will feature one of the most significant collections of digital art ever assembled. The GRAILS collection, formed in 2021 by crypto hedge fund Three Arrows Capital (3AC), boasts some of the best works of contemporary art and the generative age.
The GRAILS collection will be offered globally through various live and online auctions, private sales and additional sales channels to showcase groups of works in different contexts and formats. Seven hand-picked works from the collection will be auctioned off for the first time during Sotheby’s Marquee Sale Week, starting May 19 at Sotheby’s New York. What’s interesting is that Sotheby’s website doesn’t mention NFTs at all, except for the following quote. It is clear that they and others are moving away from using the term NFTs and embracing digital art, digital collectibles, etc.
“Collections are often representative of the time and place from which they were formed, telling a unique story through their artwork. This expansive collection marks an important moment in the rise of generative art on the blockchain in 2021, and was guided by the 3AC ethos of providing itself some of the highest quality and rarest works available on the market.Since the defining moment, when digital art and NFTs became a genuine pop culture phenomenon, generative art has continued to gain attention from a growing audience, including from major international institutions. The emergence of these collections marks a significant opportunity for collectors to celebrate the pioneering generative artists who helped bring the form to this wider audience, and who continue to push the form forward.”- MICHAEL BOUHANNA, SOTHEBY’S HEAD OF DIGITAL ART AND NFTS
The collection includes some of the most significant digital artworks, such as Dmitri Cherniak’s Ringers #879, Tyler Hobbs Fidenza #216, Larva Labs Zombie CryptoPunk #6649, Kjetil Golid’s Cube Archetype #397, Larva Labs’ Autoglyphs (#187) , #218 and # 358), Snowfro’s full-spectrum Chromie Squiggle #1780, and Tyler Hobbs’ Fidenza #31. Additionally, the collection boasts Tyler Hobbs’ small-scale Fidenza #725 and a unique piece of art by Alpha Centauri Kid, among others.
One of the most significant collections of digital art ever assembled is coming to auction at Sotheby’s over a series of multiple sales through 2023.
It all starts on May 19 during Marquee Sale Week at Sotheby’s New York. #SothebysGRAILS pic.twitter.com/AoXRNAbUq7
— Sotheby’s Metaverse (@Sothebysverse) 19 April 2023
Sotheby’s is committed to prioritizing and elevating artists and will honor creators’ royalties for secondary sales, with sellers paying the standard 10% fee. At Sotheby’s New York, the buyer’s premium will be 26% for all purchases up to $1,000,000, 20% for purchases between $1,000,000 and $4,500,000, and 13.9% for purchases over $4,500,000.
The GRAILS collection is a significant development for the digital art world and highlights the growing importance of NFTs and the open metaverse. It offers art enthusiasts and collectors a unique opportunity to own some of the most exceptional pieces of digital art ever created.
