Sotheby’s offers for sale the NFT collection of the bankrupt 3AC fund

The famous auction house Sotheby’s will put on sale a lot of NFTsome of which are highly sought after, belonging to Three Arrows Capitala large crypto hedge fund which filed the balance sheet in 2022.

Sotheby’s will soon offer ” GRAILS “a collection of NFT billed as “extraordinary” and including “some of the most important digital artworks ever assembled,” according to the announcement.

The non-fungible tokens were seized by the liquidators from Three Arrows Capitalaka 3AC. Placed in liquidation in June 2022, the Singaporean crypto fund justified its failure by not having anticipated the implosion of the Terra ecosystem.

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GRAILS “will be offered through “chapters” and via various sale formats ranging from private sales to public auctions. The transactions will take place in several locations around the world, the release said.

The collection includes the following rare pieces: Dmitri Cherniak’s Ringers #879Snowfro’s full spectrum Chromie Squiggle #1780, Tyler Hobbs’ small-scale Fidenza #725 or Larva Labs’ Zombie CryptoPunk #6649.

The funds collected will be used for pay off creditors of the defunct Asian hedge fund. The liquidators chose to partner with Sotheby’s to maximize their chances of selling the tokens at high prices.

Collections are often representative of the time and place from which they were formed, telling a unique story through their works. This extensive collection marks an important moment in the rise of generative art on the blockchain in 2021, and was guided by the 3AC philosophy of acquiring some of the rarest and highest quality works available on the market,” commented Michael Bouhanna, head of NFT at Sotheby’s.

Last year, the old New York house announced to sell a lot of 104 NFT from the precious CryptoPunk series. However, at the last moment, the owner decided to cancel the sale, citing “HODL” as the reason.

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