Sotheby’s Will Auction an NFT Collection From 3AC

Sotheby’s, a renowned auction house, will be selling a collection of rare non-fungible tokens (NFTs) from the bankrupt hedge fund Three Arrows Capital (3AC).

The multi-part sales series will begin in May and continue throughout the year.

Titled the ‘Grails Collection’, it will feature works such as Zombie-inspired CryptoPunk #6649, Dmitry Chernyak’s Ringers #879 and Tyler Hobbs’ #216 Fidenza.

Michael Buhanna, the CEO of Sotheby’s, has commented:

“This extensive collection marks an important moment in the growth of generative art on blockchain in 2021 and is based on the idea of acquiring the highest quality and rarest works available on the market.”

Before its liquidation, 3AC had spent a huge sum on the collectible tokens, including the Golden Goose Ringers #879, which it purchased for 1,800 ETH, amounting to $5.6 million at that time.