Sotheby's on Friday concluded its sale of several rare non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC) expansive collection, bringing in $2,482,850 to recoup some of the lost funds.
The auction house launched its multi-part sale featuring NFTs from the Grails collection, formed as part of 3AC's asset portfolio primarily in 2021. The Singapore-based hedge fund filed for bankruptcy in July.
Teneo, 3AC's liquidator, published a notice in February outlining its intent to sell an expansive list of NFTs estimated to be worth millions.
Sotheby's refers to the contents of the Grails collection as "some of the most significant digital artworks ever assembled."
