The collection of NFTs collected by the bankrupt cryptocurrency hedge fund Three Arrows Capital will be put up for sale. This was announced by the liquidator of the structure, the consulting firm Teneo.
The company said that trading on assets will begin within 28 days after the publication of the notice, but, in any case, after March 23, 2023.
The decision to sell does not apply to NFT gallery Starry Night Capital. This portfolio of tokens was collected on behalf of 3AC by a collector under the pseudonym Vincent Van Dough. In November 2022, the latter was forced to transfer more than 300 NFTs to Teneo, The Block recalled.
The liquidator clarified that their fate is still being considered by the court in the Virgin Islands.
The collection that Teneo will put up for sale is valued by the Zerion platform at about $6.4 million at base prices.
In August 2021, the hedge fund paid 1,800 ETH just for NFT Ringer #879 by Dmitry Chernyak, or more than $5.6 million at that time.
The creator of the token has confirmed that the digital work called "Goose" is on the list of assets to be sold by the liquidator.
According to Zerion, Goose's base price is currently 32 ETH (~$53,277). It also corresponds to the best current offer from buyers on OpenSea.
NFT Autoglyph #218 cost the company 255 ETH in 2021 (~$627,300 at the time of purchase). The current offer maximum for the asset is 10 ETH or $16,604.
Recall that in June 2022, the court of the Virgin Islands decided to liquidate 3AC. In July, the company filed for bankruptcy protection in the US.
The insolvent hedge fund's total debt was $3.5 billion, according to court documents.