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Sotheby’s is auctioning off the “Grails” collection of rare NFTs!
This week, Sotheby’s revealed that it will be auctioning off seven NFTs from the Three Arrows Capital (3AC) portfolio. Accordingly, the collectibles belong to the “grails” collection – one of the most valuable and rarest drops to date. List includes CryptoPunks, Autoglyph and works by Dmitri Cherniak.
This auction comes at an uncertain time for Sotheby’s Web3 journey. Recently, the auction house faced backlash for a portrait NFT collection launched earlier this spring and its lack of diversity.
Which NFTs will Sotheby’s auction in May?
The prestigious auction house Sotheby’s returns to the NFT scene with a new auction this May. This time, collectors will be able to bid on some of the rarest valuable NFTs of all time. Here’s a look at the main ones:
- CryptoPunk #6649 (with zombie features)
- Autoglypth #187 by Larva Labs
- “The Golden Goose” by Dmitri Cherniak
- “Chromie Squiggle” #1708 by Snowfro
In addition, the auction house will offer one of Tyler Hobbs’ Fidenza NFT, and other representative digital works from recent years.
Three Arrows Capital previously owned all seven collectibles. The company, valued at over $10 billion recently, filed for bankruptcy last July. Now a group of Joint Liquidators aims to maximize the assets’ value under a British Virgin Islands court order.
“We chose to partner with Sotheby’s digital art team on the sale of this expansive NFT collection because we believe they provide a best-in-class approach that will ultimately maximize the value of these assets on behalf of all creditors,” said the liquidators.
What other NFTs did the auction house offer this year?
Sotheby’s is undoubtedly among the most supportive auction houses for NFT creators and projects. This year alone, the group launched over five important NFT initiatives with top creators.
One of them, for example, was a charity auction in collaboration with Unicorn DAO to support women’s reproductive rights.
Earlier this month, Sotheby’s also launched a new version of its previous NFT collection, “Glitchism,” which drew criticism for its lack of diversity. The new drop titled “Glitch: Beyond Binary” also included female representations, following the community’s request.
Despite some failures in the NFT journey, Sotheby’s will definitely remain an important part of the NFT market. After all, it was the main prestigious auction house that supported digital collectibles during the NFT boom, selling over $100 million worth of NFTs in 2021 alone.
