British auction house Sotheby’s has announced the upcoming sale of “GRAILS,” a collection of some of the most significant non-fungible token (NFT) artworks of all time.
The drop will comprise NFT artworks owned by Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund that was ordered to liquidate on June 27, 2022, by a British Virgin Islands court following a bankruptcy case.
Teneo, a global advisory firm hired to oversee the liquidation, announced plans in February to auction a large NFT collection amassed by the now-insolvent company.
Sotheby’s said in a tweet that the collection, which will feature outstanding artworks from the most significant artists in the world of digital art, would be offered through its auction house.
Some of the artworks include Tyler Hobbs’ small-scale Fidenza #725, Dmitri Cherniak’s Ringers #879, Kjetil Golid’s Archetype #397, Snowfro’s full spectrum Chromie Squiggle #1780, Larva Labs’ Zombie CryptoPunk #6649 and Autoglyphs #218, #187, and #358.
The collection will be revealed and released in a series of drops throughout the year, including private sales and auctions conducted in different locations around the world.
The digital artworks will be offered in multiple formats, allowing for the fusion of traditional and contemporary art.
The GRAILS collection, which will be available beginning May 19, 2023, is the most iconic collection of digital artworks assembled thus far.
Sotheby’s has already hosted several digital art and NFT auctions and sales; in 2021, it launched Sotheby’s Metaverse, a dedicated online destination for rare NFTs, and in August 2022, Sotheby’s and Tiffany Dubin announced their phygital NFT jewelry auction “Art as Jewelry as Art.”