Several Rare NFTs Owned by Insolvent 3AC Sold in Sotheby’s Auction

• The auction also included CryptoPunk #1326 and Autoglyph #187.
• The extensive rare collection sale brought in approx $2.4 Million.

On Friday, Sotheby’s completed the auction of many rare non-fungible tokens (NFTs) confiscated from the extensive collection of defunct crypto hedge firm Three Arrows Capital (3AC), netting $2,482,850.

The Grails collection of NFTs, developed as part of 3AC’s asset portfolio which began in 2021, was the focus of the auction house’s multi-part sale. The hedge firm located in Singapore declared bankruptcy in July. Also, the liquidator for 3AC, Teneo, released a notice in February detailing its plans to sell a large number of NFTs with an estimated value in the millions.

Most Significant Digital Artworks

Sotheby’s calls the pieces in the Grails collection “some of the most significant digital artworks ever assembled.” Generative works of art such as Fidenza #725 by Tyler Hobbs and Ringers #375 by Dmitri Cherniak were among the NFTs up for bid in this round.

The auction also includes CryptoPunk #1326 and Autoglyph #187, both of which were developed by Larva Labs. There were seven different generative works available. In the future, 3AC plans to auction or privately sell more NFTs from its collection.

Also, Fidenza #725 and Autoglyph #187, both from the Grails collection’s first installment, are the two most expensive NFTs in the range of $120,000 to $180,000. Prices for the NFTs ranged from $1,016,000 to $571,500.

Moreover, Fidenza #725 was assessed to be worth 184.4 ETH, or over $335,000. This value was determined by the use of Deep NFT Value. A machine learning method that assesses high-value NFTs by investigating prior transactions of digital assets. Also considers current market circumstances, and the distinctive rarity qualities of each collection. The second top-ticket item, Autoglyph #187, was valued at 205.7 ETH, or almost $373,800.

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