Dmitri Cherniak’s ‘The Goose’ NFT Sells at Sotheby’s Auction for $5.4M

Generative artist Dmitri Cherniak’s Ringers #879 non-fungible token (NFT) sold for $5.4 million on Thursday during a live auction at Sotheby’s auction house in New York City, blowing past estimates during a time of slower market movement.

The artwork, often referred to as “The Goose” for its likeness to the animal, was the top lot during Sotheby’s most recent auction of NFTs from the “Grails” collection seized from bankrupt crypto hedge fund Three Arrows Capital (3AC). The piece was estimated to sell for $2-3 million.

The $5.4 million sale was met with applause in the room in New York City, as captured in a tweet by Garrett Skrovina:

The collectible was purchased by 3AC co-founders Su Zhu and Kyle Davies in August 2021 for about 1,800 ETH – worth roughly $5.8 million at the time. Michael Bouhanna, Sotheby’s head of digital art and NFTs, told CoinDesk that the piece is a major highlight of Cherniak’s portfolio and “one of the most significant works from the generative art movement.”

It appears that 6529, an NFT investor and Twitter personality, was the buyer of the NFT.

In total, there were 37 works for sale at auction from generative artists like Dmitri Cherniak, Tyler Hobbs, Jeff Davis and more in the sale.