popular auction house Sotheby’s will sell “Unparalleled Collection” of Non-fungible tokens (NFTs) acquired by bankrupt crypto hedge fund Three Arrows Capital and later seized after the company collapsed.
Sotheby’s set by auction a digital art A group called “Grails”, which features “some of The rarest and most important works” from notable NFT artists, as mentioned in press release. Artistical works in The collection will be presented globally via live auctions private Sales and other sales channels throughout 2023.
According to Sotheby’s, seven Grails Collection NFTs will be scheduled for Auction in dark sale week on May 19th in New York. They include Zombie CryptoPunk #6649 by Larva Labs, Chromie Squiggle #1780 by Snowfro, Ringers #879 (or “Golden Goose”) by Dmitri Cherniak, Fidenza #725 by Tyler Hobbs, and Autoglyphs.
“This wide group represents an important moment in the rise of generative art on blockchain in 2021, and guided by 3AC ethics of get some of the highest Quality and the rarest works available on the market. “
President of Sotheby’s of Digital Arts and NFTs, Michael Bohna
The group, which was acquired by Singapore-based crypto hedge fund Three Arrows Capital, or 3AC, was later taken over by liquidators after the company collapsed. Teneo, a consulting firm in Cost of 3AC filter, he said in February 2023 that it was planning to sell crypto hedge fund NFTs, which it was said to be worth $22 million.
Meanwhile, Teneo said the sale does not include NFTs in Starry Knight Capital portfolio, which is subject to an “application before the Eastern Caribbean Supreme Court in supreme court of justice in British Virgin Islands.” According to a statement from Teneo regarding latest For the auction, the liquidators chose Sotheby’s for NFT auction ‘to maximize value of the assets. “
