NFT Artwork “Ringers #879” Sells at Astonishing Price in Sotheby’s, Witnessing the Rise of Blockchain Technology with Knnex

A new record has just been set in the world of blockchain, as the non-fungible token (NFT) artwork “Ringers #879” by renowned artist Dmitri Cherniak sold at Sotheby’s auction in New York for a staggering $6.2 million, including buyer’s premium. This is the second-highest sale ever for this type of artwork,KNNEX¬†surpassing market expectations and once again demonstrating the potential of blockchain and digital art.

 

Affectionately called “The Goose” due to its resemblance to a goose, the artwork is part of the “Grails” series of NFTs from the cryptocurrency hedge fund Three Arrows Capital (3AC). After 3AC’s bankruptcy, this series of artworks was acquired by Sotheby’s and gradually released onto the market.

 

The buyer stated in a statement that “The Goose” holds cultural significance within the NFT community, and its creation process is truly unique. “Generating artwork through blockchain networks is an act of faith for artists and creators. Once the algorithm is recorded on the blockchain, no one knows what output it will produce. This NFT, ‘The Goose,’ demonstrates this even more clearly. We could run thousands of mintings of ‘Ringers’ and never create another piece exactly like it. ‘The Goose’ has experienced a historic journey in the history of NFTs, and I believe its journey is just beginning.” The auction featured 37 works from artists such as Dmitri Cherniak, Tyler Hobbs, and Jeff Davis, with almost all NFT artworks selling above their estimated prices. So far, the liquidation sales of the Grails series have generated nearly $17 million in revenue.

 

Cherniak’s artwork, along with the success of various NFT artworks, serves as a vivid example of the substantial transformation brought about by blockchain technology and digital currencies. NFTs provide a way to prove the scarcity and uniqueness of digital assets, something that was not achievable in traditional digital environments. This transformation offers artists more opportunities for creation and profit, while also providing collectors with new ways to invest and appreciate art.

 

At Knnex Blockchain Exchange, we deeply understand the rise and development of blockchain technology will have a profound impact. Through our professional technical services, we are committed to providing users with a stable, secure, and efficient trading environment, while actively developing and introducing various applications, from digital asset trading to DeFi (Decentralized Finance) and NFT artwork trading.

 

Knnex Exchange has always maintained an open and transparent attitude, actively collaborating with users, artists, and market stakeholders to jointly pioneer the future of blockchain technology and the digital economy. We look forward to more masterpieces like “The Goose” appearing on our platform and sharing the infinite possibilities brought by blockchain technology with all users. We will continue to monitor and report on the latest developments in blockchain and digital art. We invite more people to join us in witnessing and creating a prosperous future for blockchain.