Latest Ringers by Dmitri Cherniak News
Punk6529 divulged the reasons behind his investment in the Goose Ringer, a unique generative art NFT from Dimitri Cherniak's Ringers collection.
The Deets According to 6529
- Goose Ringer is a unique generative NFT that holds considerable attention and value in the market.
- The Goose Ringer's purchase underlines the significance of emergent properties in generative art.
- The sale price of the Goose reflects the social construction and memetic power of unique NFTs.
The Bulk
Punk6529, a renowned figure in NFT opened up about the journey in acquiring the Goose Ringer, Ringer No. 879 piece in the collection of 1,000 Ringers.
This unique piece, known as the "Goose," attracted attention due to its emergent property — a property so distinct that it sets the piece apart from the rest, attracting a market-clearing price that is 10 times higher than other generative pieces auctioned the same night. The Goose was originally bought post-mint for a few ETH, and then sold for a whopping 1,800 ETH by Three Arrows Capital, following an unsuccessful 500 ETH offer by Vincent Van Dough.
This incredible value highlights the power of NFTs and the potential of generative art, demonstrating how these pieces can symbolize and embody a reality that extends beyond the art form itself.
❗Why It Matters
The Goose Ringer's purchase by Punk6529 signifies the importance and influence of generative art in the NFT space and might just hint at the evolution of digital art, where the "algorithm becomes a player in the field."
📊 By the Numbers
The Goose Ringer was originally purchased post-mint for 1.260 WETH and later sold for 1,800 ETH before being auctioned yesterday for ~$6.2 million.
🎤 Punk Prose
This time it was the 6529 Fund with participation from the 6529 Museum. The Museum and the Fund have the same end-goal - I believe important crypto cultural markets should stay natively in decentralized spaces. For long-term, the best outcome is a collectively owned on-chain museum, not an individual owner.Punk6529
🔥 6529 Anecdote
In the midst of all the action, Punk6529 offered a personal message to the counterbidder, thanking them for the exciting evening. If the rumors about the counterbidder's identity are accurate, they had acquired an NFT that Punk6529 had earlier planned on purchasing. In Punk6529's words, this makes things "even."
🔜 What's Next?
The future for the Goose, the Museum, and the Fund is full of potential. They aim to further the cause of decentralization and collective ownership in the NFT space, with the ambitious goal of a collectively owned on-chain museum. Despite some regulatory hurdles, the three entities are hopeful about the future and committed to furthering education about generative art. For now though, the Goose will continue "to live in decentralized spaces."
Sotheby's is slated to auction a set of seized NFTs from the bankrupt crypto hedge fund Three Arrows Capital (3AC), including the coveted Dmitri Cherniak's Ringers #879, widely known as "The Goose."
The Deets
- The second auction of 3AC's "Grails" collection, featuring 37 NFT works.
- The event, dubbed the largest-ever live digital art auction, will take place in New York on June 15.
- Dmitri Cherniak's "The Goose," purchased by 3AC for approximately $5.8 million in 2021, will be the highlight.
- Other notable works include Tyler Hobbs’ Fidenza #216.
The Bulk
In its second sale of 3AC's "Grails" collection, Sotheby's is bringing to the auction block 37 high-value NFTs, including Dmitri Cherniak's Ringers #879, colloquially known as "The Goose."
"The Goose," a distinctive piece in Cherniak's portfolio, was acquired by 3AC's co-founders Su Zhu and Kyle Davies for about 1,800 ETH, equivalent to $5.8 million at the time, in August 2021. Other notable NFTs include Tyler Hobbs' Fidenza #216, which last sold for 320 ETH (approximately $1 million) in 2021.
📊 By the Numbers
Earlier this month, the first sale of 3AC's NFTs brought in over $2.4 million, with a Tyler Hobbs' Fidenza NFT selling for over $1 million.
🧠 Learn More
Three Arrows Capital's (3AC) extensive NFT collection is expected to enter liquidation, according to a notice by Teneo placed yesterday in the British Virgin Islands.
❗Why It Matters
The failed hedge fund holds many valuable NFTs in its collection, which could be worth at least $6m at current market prices. The crown jewel of the collection may be "The Goose," arguably the most iconic work from Dmitri Cherniak's "Ringers" collection. 3AC acquired The Goose in August of 2021 for 1,800 ETH (nearly $3m USD at the time).
🔎 The Details
Other notable NFTs in 3AC's collection include:
- Bored Ape Kennel Club (1)
- Many NFTs from various Art Blocks collections, most notably 30 Fidenzas and 17 Ringers
- Autoglyphs (3)
- CryptoPunks (11)
- ACK Unique Editions 1-of-1
- Where My Vans Go (1)
View the entire collection here.
🧠 Need to Know
- The liquidation of 3AC's NFT collection will not include the Starry Night Capital portfolio. The Starry Night collection was assembled by VincentVanDough on behalf of 3AC, and it is considered a separate entity.
🎤 Community Feedback
Dmitri Cherniak tweeted that Light Years #15 was chosen by the curation team at Paris Photo for its upcoming 2022 art fair. 10 of the 100 algorithmic editions will be on display in Paris at the event from November 10-13.
Cherniak teased the collection yesterday. The project is set to release on December 1 and is in partnership with the estate of Bauhaus artist László Moholy-Nagy. Paris Photo is an international art fair dedicated to photography and takes place at the Grand Palais exhibition hall.
Cherniak is known for his "Ringers" collection on Art Blocks, which currently sits at #6 on our NFT Power Rankings.
Notable generative artist Dmitri Cherniak introduced a new project "Light Years" on his Twitter feed this morning with a teaser video.
The project will be done in partnership with the estate of Bauhaus artist László Moholy-Nagy and is scheduled for release on Dec. 1st, 2022. There will be a preview event from Nov. 10-13 at Paris Photo, and a full documentary featuring the project will launch on Nov. 4th.
Moholy-Nagy was a founding teacher at the Bauhaus School of Art and Design in Weimar and Dessau in the 1920s, and eventually went on to found The School of Design in Chicago in 1939.
"Light Years" was developed as Dmitri traveled the world researching Moholy-Nagy's works and life. Described as "a study in contrast - light and dark, life and death...", the artist drew inspiration from Moholy-Nagy's aesthetics and vision. Though the two were separated by one hundred years, Dmitri shares a deep connection based on "a vision for a future where technology and automation are appreciated for their creative and cultural potential."
Dmitri's Art Blocks projects have found great success, with his Ringers holding the all-time high Art Blocks sale of 2,100 ETH ($7.1M) for Ringer #109, and the collection holds a 65 ETH floor. His "The Eternal Pump" holds a 275 ETH floor for the set of 50 NFTs, the highest and most notable floor for any Art Blocks project.
No other additional details related to the project size, style, or pricing have yet been released, but look here for more information on the project background.
Three Arrows Capital (3AC) and Starry Night NFT wallets could go into receivership any day following the firm's bankruptcy. Estimates of how much the NFTs in the two wallets are worth range from $3 million to more than $25 million, the latter suggested today by DeepNFTValue.
Inside the first wallet is 11 CryptoPunks, three Autoglyphs, multiple Ringers (including "The Goose"), 31 Fidenzas, and more.
Inside the second wallet is more Ringers, more Fidenzas, an Ethernal Pump, and more.
A breakdown of the value of these two wallets by NFT collection is available above. The largest chunk of value comes from Fidenza, which is worth nearly $10 million, according to DeepNFTValue. This is 3x the low-ball evaluation of $3 million mentioned above.
With 11 CryptoPunks, 38 Ringers, and 34 Fidenzas, if these wallets are not properly auctioned off to the greater web3 community, the sales could negatively impact floor prices, especially for 10k pfp collections like CryptoPunks.
A final decision on how to auction off these assets, whether bundled or not, has not yet been made. For suggestions on how to appropiately handle the auction, see Nikolai Yakovenko's full article for DeepNFTValue here.
DeepNFTValue is an algorithm-based platform that uses deep neural networks to value CryptoPunks and other NFT projects. It is widely considered one of the most accurate value projection tools on the market at this time.
