NFT
This week, Sotheby’s announced the next sale of rare NFTs from the coveted collection of bankrupt 3AC seized by liquidators in July 2022. The highlight of this sale is “The Goose” by Dmitri Cherniak, which is expected to bring in a gold sum.
Meanwhile, Mercedes Benz has released a new NFT collection inspired by its luxury cars on the move and Nike is bringing its digital infusion to the EA Sports gaming ecosystem.
This week’s alpha
Golden Goose: Sotheby’s will auction another round of valued NFTs seized from bankrupt crypto hedge fund Three Arrows Capital on June 15. Tyler Hobbs, Jeff Davis and more.
Big ticket item: The highlight of the upcoming auction is Dmitri Cherniak’s Ringers #879 (often referred to as “The Goose”), with an estimated retail price of $2-3 million. It was purchased in August 2021 by 3AC co-founders Su Zhu and Kyle Davies for approximately $5.8 million.
Liquidation: Earlier this month, the first set of NFTs auctioned from the Grails collection raised $2.4 million, and Teneo reported that the private sale of another group of works from the Grails collection raised more than $3 million. So far, liquidation sales of the Grails collection have raised more than $6 million, and it looks on track to beat the estimated total sale of $9.8 million once completed.
Rise of the ‘Maschine’: digital art organization Fingerprints DAO is collaborating with Dutch artist Harm van den Dorpel and German car manufacturer Mercedes Benz on a new NFT collection that responds to themes such as speed and perception. The 1,000-issue generative art collection is supported by Mercedes-Benz NXT, the automaker’s new Web3 arm focused on digital collectibles and virtual experiences. It will be available through the Fingerprints DAO website through a discounted Dutch auction on June 7.
Initiated: Mercedes-Benz NXT was involved in the co-creation of the collections with Harm van den Dorpel, who created and trained a neural network to create output that looks like a moving object.
On the radar: The brand plans to release more collections in the future, including additional core collections, standalone satellite projects, and third-party peripheral projects.
Just SWOOSH It: Nike is bringing its .SWOOSH NFTs to the EA Sports gaming ecosystem, allowing EA Sports fans to “express their personal style through play”. levels of customization” within the EA Sports ecosystem.
Slower Sales: The announcement comes on the heels of .SWOOSH’s first NFT sneaker collection released last week that grossed $1.9 million in sales, according to Polygonscan. The drop was plagued with delays and technical issues, and only 97,627 of the Our Force 1 boxes were sold out of the total inventory of 106,453 — surprising, considering that most popular Nike physical sneaker releases often sell out in minutes.
Emerging projects
FewWho: NFT artist FewociousWhat: Fewocious, aka Victor Langlois, began creating colorful artwork in his early teens before slowly building a reputation for himself in the digital art space. Now 20, he’s dropped snippets of his upcoming profile photo (PFP) collection called “Fewos,” which pays homage to the world’s “Frankensteins, Misunderstoods, and Humanoids.” Minted as ERC-6551 tokens, each NFT is composed of hand-drawn features converted into 3D art.When: The NFTs will be available in August from the FewoWorld website. You can learn more about the artist and upcoming collection here.
In other news
Decent Exposure: Getty Images, through the digital marketplace Candy, has released a new collection of images as NFTs titled “Exposure.”China’s Web3 Plans: The Beijing International Science and Technology Innovation Center in China has released a Web3 white paper promoting the development of new Internet technologies.Hong Kong x Huobi: Crypto exchange Huobi has announced that it is joining the Hong Kong Virtual Assets Consortium (HKVAC) to support the growth of Web3 in Hong Kong.
Non-fungible toolkit
This week, a dubious NFT project called Pixel Penguins was promoted by crypto influencer Andrew Wang to his thousands of followers on Twitter. The project, which claimed to raise money for a digital artist with cancer, turned out to be a scam.
As the crypto space has evolved, so have the methods scammers use to prey on unsuspecting investors. And as NFT trading has grown, adversaries have found new ways to steal digital assets and obscure funds.
Here are the most common types of NFT scams and how to avoid them.