Luxury Auction House Sotheby’s Sells Portion of 3AC’s NFT Collection for $2.5 Million

Sotheby’s, the luxurious public sale home, efficiently generated $2.5 million by means of the sale of non-fungible tokens (NFTs) from the now-defunct crypto hedge fund Three Arrows Capital (3AC). Among the bought items was Fidenza #725, a digital collectible crafted by the artist Tyler Hobbs. This Fidenza #725 NFT commanded an public sale value of over $1 million throughout Sotheby’s Contemporary Day Sale.

Sotheby’s Brings in $2.5 Million From 3AC’s NFT Collection

On May 19, 2023, Sotheby’s public sale unveiled the gross sales figures for the NFT assortment of Three Arrows Capital (3AC), a now-bankrupt Singaporean crypto hedge fund, with a complete of $2.5 million. Sotheby’s took to Twitter on Friday afternoon to announce that Tyler Hobbs’ Fidenza #725 NFT fetched $1,016,000, almost 5 occasions the excessive estimate. The 3AC NFT public sale, often known as the “Grails” NFT assortment, was first revealed by Sotheby’s in April.

During the public sale, Larva Labs’ NFT Autoglyph #187 secured the second-highest bid, amassing $571,500. Additionally, Larva Labs’ Crypto Punk #1326 discovered a purchaser at $165,000, whereas Ringers #194 fetched $152,400. Dmitri Cherniak’s Ringer #879, affectionately often known as the “Golden Goose” or just the “Goose,” is scheduled for a reside public sale on June 15 in New York. Sotheby’s, on Friday, additionally revealed that the onchain paintings crafted by @0xdeafbeef achieved a value of “$241,300 in the Contemporary Day Sale.”

Kyle Davies, the co-founder of 3AC, took to Twitter to exclaim, “NFT grails mooning on Sothebys.” However, given 3AC’s alleged misconduct in mismanaging investor funds, Davies’ tweet confronted ridicule and criticism. One particular person responded sharply to Davies’ assertion, urging him to prioritize returning cash to the affected people. Notably, Davies and 3AC co-founder Su Zhu not too long ago unveiled OPNX, a newly launched trade facilitating the trade of claims from bankrupt crypto corporations.

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