Latest Ringers by Dmitri Cherniak News

Three Arrows Capital NFTs To Be Liquidated
Bill Monighetti

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.

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The Goose is being liquidatedDmitri Cherniak

Three Arrows Capital NFTs To Be Liquidated
Dmitri Cherniak's "Light Years #15" Chosen for Paris Photo
Lou Sherman

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.

Dmitri Cherniak's "Light Years #15" Chosen for Paris Photo
Dmitri Cherniak Teases New Project 'Light Years'
Tyler Warner

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.

Dmitri Cherniak Teases New Project 'Light Years'
Three Arrows Capital NFT Wallets Valued at $25.6 Million, Estimate Suggests
Jason Bales

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.

Three Arrows Capital NFT Wallets Valued at $25.6 Million, Estimate Suggests