– Three Arrows Capital (3AC) declared bankruptcy in July 2022 and their investment vehicles were seized.
– Sotheby’s is now auctioning off some of the NFTs from 3AC’s asset portfolio, including CryptoPunks, Fidenzas, and more.
– The auction house considers the artworks “some of the very best of the Contemporary Digital Art and Generative era.”
Three Arrows Capital Bankruptcy
In July 2022, Three Arrows Capital (3AC) declared bankruptcy and its investment vehicles were seized by creditors. The crypto hedge fund had been embroiled in a series of scandals that year including Terra Labs and FTX.
Sotheby’s Auction
Sotheby’s announced that it would be hosting a multi-part sale featuring NFTs from 3AC’s Grails collection. The portfolio includes rare art pieces such as Zombie CryptoPunk #664, Ringers #879, Chromie Squiggle #1780, Fidenza #725, Autoglyphs Cube Archetype #397 and Alpha Centauri Kid’s one-of-one piece. Michael Bouhanna from Sotheby’s commented on the collection saying it was „some of the very best of the Contemporary Digital Art and Generative era“.
Collection Overview
The Grails Collection includes Larva Labs‘ Zombie CryptoPunk #664, Dmitri Cherniak’s Ringers #879 (also called “The Golden Goose”), Snowfro’s full spectrum Chromie Squiggle #1780, Tyler Hobbs‘ small-scale Fidenza #725 Autoglyphs Cube Archetype #397 by Kjetil Golid and a one-of-one by Alpha Centauri Kid.
Auction Date
Sotheby’s will commence the first sale in May at its marquee sale in New York City.
Conclusion
The auction of 3AC’s Grails Collection offers an unprecedented opportunity to acquire some of the rarest digital artworks available on the market today, making it an exciting event for collectors worldwide!