Ringers NFT is a collection of 1,000 NFTs generated through an algorithm that explores the possibilities of wrapping a string around a set of pegs. It was developed under the Art Blocks Curated Collection by Dmitri Cherniak. ^[1][2][3]

Overview

Ringers NFT was created in October 2021 by Dmitri Cherniak, a Canadian artist based in New York. It is a digital artwork generated through an algorithm that creates different shapes by wrapping a string around a set of pegs. Each Ringers NFT is individually created based on a distinct transaction hash and generated using JavaScript within the web browser. The NFT variations depend on factors like the number of pegs, size, arrangement, wrapping direction, etc. ^[1][3]

Art Blocks

Art Blocks is a platform dedicated to generative art on the blockchain. Artists can create and deploy custom-designed algorithms on the Ethereum blockchain. By doing so, they can generate unique generative artworks. Some of the most famous projects include the “Ringers” by Dmitri Cherniak, “Chromie Squiggles” by Erick Calderon, and “Fidenza” by Tyler Hobbs. ^[3][8][9]

The Rinkeby Sessions

Rinkeby is the "test net" blockchain for testing, debugging, and minting Ringers which was used in preparation for the launch and it operates by Proof of Authority. Ringers founder, Dmitri Cherniak minted almost 1,000 Ringers during this process. ^[4]

Dmitri Cherniak describes "The Rinkeby Sessions" as a master print open edition for users who want to own a piece of Ringers history, but were unable or unwilling to purchase one on the Ethereum mainnet. There are ten prints with 100 Ringers each in the order they were minted.^[4]

Notable Sales

Ringers #109, Most Expensive Art Block Curated

On October 2, 2021, Three Arrows Capital, a bitcoin investing firm bought Ringers #109 NFT for 2100 ETH. The NFT was sold by NarcissusGLRY co-founder, AKIRA who bought it for $230 in March 2021.^[7] The sale made Ringers #109 NFT the most expensive NFT of the ART Blocks project. ^[5][6][8]

Ringers #879 ('The Goose') Sale for $6.2M

On June 15, 2023, Ringers #879 often referred to as "The Goose" sold for a hammer price of $5.4 million and a full price of $6.2 million inclusive of Sotheby's buyer's premium during a live auction at Sotheby's auction house in New York City. ^[10]

The NFT was initially purchased by Three Arrows Capital (3AC) co-founders Su Zhu and Kyle Davies in August 2021 for 1,800 ETH – worth roughly $5.8 million at the time. It sold for $6.2 million to notable NFT investor 6529. In a tweet following the sale, Sotheby's reported it was the second-highest sale of all time for a work of generative art.^[10][11]

In a statement, 6529 said that The Goose held cultural significance within the NFT community and is unique in its execution.

"On-chain long form generative art is an act of faith by the artist and the minter. Once the algorithm is committed to the blockchain, nobody knows what outputs it will produce. The Goose represents this more clearly than any generative NFT. We could have run the Ringers mint thousands of times without producing anything like it again. The Goose has had a historic journey so far through key moments in NFT history and I suspect its journey has just begun." - 6529 statement^[11]