NFTs Seized From 3AC Fetch $2.5 Million At Sotheby’s Auction

20 May 2023

in NFT

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Three Arrows Capital’s (3AC) Grails Collection has been auctioned off by Sotheby’s for almost $2.5 million.
The NFTs that were sold included Tyler Hobbs’ Fidenza #725 CryptoPunk #1326 and Dmitri Cherniak’s Ringers #375.
Fidenza #725 attracted the highest bid of over $1 million, exceeding the high estimate by nearly five times.
The NFTs sold in Grails Collection’s auction are separate from the NFT collection put together by 3AC’s Starry Night Capital.

Auction house Sotheby’s has successfully auctioned off a series of rare NFTs associated with Three Arrows Capital (3AC

). The popular Grails Collection, which was seized from the defunct crypto hedge fund last year, has been sold for almost $2.5 million. The auction comes three months after Three Arrows Capital’s liquidator announced its intention to sell a part of the firm’s massive digital art collection.

3AC’s Fidenza #725 Rakes In Over $1 Million In Sotheby’s Auction

Sotheby’s Metaverse, the digital art subsidiary of the auction house, took to Twitter earlier today to announce that it had sold seven NFTs from 3AC’s Grails Collection. The auction was part of a multi-part sale announced by the defunct crypto hedge fund’s liquidator Teneo earlier this year. The most expensive NFT sold was Tyler Hobbs’ Fidenza #725 ($1.01 million), which attracted a bid five times its estimated price of $120,000-$180,000.

The second highest bid was for Larva Labs’ Autoglyph #187, which raked in $571,500 despite having an estimated price of $120,000-$180,000. Other NFTs that were auctioned include Larva Labs’ Crypto Punk #1326, which sold for $165,000, Ringers #194 ($152,400), 0xDEAFBEEF’s Series 1: Angular – Token 134 ($241,300), Ringers #375 ($95,250) and Fidenza #861 ($241,300). Every piece of digital art from 3AC’s Grails Collection sold for considerably higher than the auction house’s estimate.

“The emergence of this collections marks a significant opportunity for collectors to celebrate the pioneering generative artists who helped bring the form to this wider audience, and who continue to push for form forward.”

Michael Bouhanna, Sotheby’s Head of Digital Art and NFTs.

Sotheby’s described the Grails Collection as some of the rarest and most important works from the most sought-after creators in the Digital Art markets. The auctioned NFTs are not part of the highly coveted NFT portfolio of 3AC’s Starry Night Capital.

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