Sotheby's Extravagant 'Goose' Auction and Mercedes Benz Drives NFT Innovation

Earlier this week, Sotheby's revealed their upcoming auction featuring a remarkable selection of rare NFTs sourced from the prestigious collection of bankrupt 3AC, which had been confiscated by liquidators in July 2022. The most anticipated item in this auction is undoubtedly "The Goose" by Dmitri Cherniak, poised to command a significant fortune.

In the meantime, Mercedes Benz has introduced a fresh assortment of NFTs drawing inspiration from their sleek luxury vehicles in dynamic motion, while Nike is preparing to integrate their digital fashion offerings into the immersive EA Sports gaming universe.

This Week's Alpha

Golden goose: On June 15, Sotheby's will hold an auction for a new set of valuable NFTs that were confiscated from the bankrupt crypto hedge fund Three Arrows Capital. The upcoming auction will showcase 37 pieces of digital art from the esteemed "Grails" collection, created by renowned generative artists such as Dmitri Cherniak, Tyler Hobbs, Jeff Davis, and others.

Big ticket item: The focal point of the forthcoming auction revolves around Dmitri Cherniak's highly coveted artwork, Ringers #879, commonly known as "The Goose," with an estimated auction value ranging from $2 to $3 million. Notably, this masterpiece was initially acquired by Su Zhu and Kyle Davies, the co-founders of 3AC, back in August 2021, at a notable price tag of approximately $5.8 million.
Liquidation tally: In the recent weeks, the initial batch of NFTs auctioned off from the Grails collection generated a staggering $2.4 million in revenue. Additionally, Teneo reported a private sale of another assortment of artworks from the Grails collection, which brought in over $3 million. With the ongoing liquidation sales, the cumulative earnings from the Grails collection have already surpassed $6 million, and it appears likely to exceed the projected total sales estimate of $9.8 million upon completion.

Rise of the 'Maschine': Fingerprints DAO, a digital art organization, has joined forces with Dutch artist Harm van den Dorpel and German car manufacturer Mercedes-Benz for an exciting collaboration centered around a new NFT collection that explores the concepts of velocity and perception. This unique generative art collection, consisting of 1,000 editions, is backed by Mercedes-Benz NXT, the company's Web3 division dedicated to digital collectibles and virtual experiences. Starting from June 7, art enthusiasts can acquire these NFTs through a Dutch auction on the Fingerprints DAO website, with the added benefit of a rebate.

Set in motion: Mercedes-Benz NXT collaborated closely with Harm van den Dorpel in the co-creation of the collections. Van den Dorpel utilized a neural network to generate outputs that capture the essence of objects in motion, lending a dynamic and fluid aesthetic to the artworks.
On the radar: The brand has exciting plans for the future, with a roadmap that includes the release of several collections. These upcoming offerings will encompass additional core collections, standalone satellite projects, and collaborations with third-party artists, expanding the artistic and creative scope of their NFT offerings.

Just SWOOSH It: Nike is set to introduce its .SWOOSH NFTs into the EA Sports gaming ecosystem, providing an avenue for EA Sports enthusiasts to express their unique style through gameplay. Although specific information is limited, this collaboration aims to generate captivating and interactive encounters while offering enhanced levels of personalization within the EA Sports ecosystem.

Slower-paced sales: The announcement arrives shortly after .SWOOSH's inaugural NFT sneaker collection launched last week, generating $1.9 million in sales, as reported by Polygonscan. However, the drop was marred by delays and technical difficulties, resulting in the sale of only 97,627 Our Force 1 boxes out of the total inventory of 106,453. This outcome was quite surprising, considering that physical sneaker releases from renowned brands like Nike typically sell out within minutes.

Projects on the Rise

Fewos logo (Fewocious)

Fewos

Who: NFT artist Fewocious

What: Fewocious, also known as Victor Langlois, embarked on his artistic journey during his early adolescence, creating vibrant and captivating pieces. Gradually, he carved a niche for himself within the digital art realm, garnering recognition for his unique style. At the young age of 20, he now tantalizes his audience with glimpses of his upcoming collection of profile pictures (PFP) titled "Fewos," a captivating homage to the unconventional beings of the world - the "Frankensteins, Misunderstoods, and Humanoids." Each artwork, minted as ERC-6551 tokens, is a fusion of meticulously hand-drawn traits seamlessly transformed into stunning 3D masterpieces.

When: The NFTs will be ready for minting in August through the FewoWorld website. For further details about the artist and the upcoming collection, please visit here.

In Other News

Decent exposure: Getty Images recently launched a captivating collection of NFTs called "Exposure" on the digital marketplace Candy.

China’s Web3 plans: The Beijing International Science and Technology Innovation Center in China has published a groundbreaking white paper on Web3, advocating for the advancement of innovative internet technologies.

Hong Kong x Huobi: Crypto exchange Huobi has recently revealed its partnership with the Hong Kong Virtual Assets Consortium (HKVAC) in a bid to foster the growth of Web3 in Hong Kong.

Non-Fungible Toolkit

During the past week, crypto influencer Andrew Wang took to Twitter to endorse a questionable NFT project named Pixel Penguins to his extensive follower base. The project, supposedly dedicated to raising funds for a digital artist battling cancer, ultimately revealed itself as a deceitful scheme.

As the crypto industry continues to advance, scammers have also become more sophisticated in their techniques to exploit unsuspecting investors. With the rising popularity of NFT trading, malicious individuals have discovered novel approaches to pilfer digital assets and obscure the origin of funds.