Non-fungible tokens (NFTs) belonging to bankrupt hedge fund Three Arrows Capital (3AC) will be sold by its liquidators Teneo, according to a recent announcement.
In a notice dated February 22, joint liquidator Christopher Farmer announced that the liquidators intend to initiate the sale of NFTs belonging to 3AC. The announcement noted that the sale will be made to “realize the value of the NFTs for settlement purposes.” According to the announcement, sales will start 28 days after the notification.
Within the announcement, the liquidators clarified that it will not include the list of NFTs that are informally dubbed the “Starry Night Wallet.” On October 5, 300 NFTs from 3AC subsidiary Starry Night Capital were transferred as part of 3AC’s bankruptcy proceedings. The liquidators noted that these NFTs are currently the subject of an application in the supreme court of the British Virgin Islands.
NFTs previously collected by Starry Night Capital are moving to a Gnosis Safe address.
These NFTs include:
– Pepe the Frog NFT Genesis, sold for 1,000 ETH (~$3.5M) on Oct 5, 2021
– Fidenza #718, sold for 240 ETH (~$1.1M) on Nov 13, 2021
Some other notable NFTs below pic.twitter.com/8PU13CqMnn
—Nansen (@nansen_ai) October 4, 2022
Although the announcement does not mention which NFTs will be sold, analyst Tom Wan pointed out on Twitter which NFTs liquidators could potentially sell. According to Wan, NFTs can include some high-profile pieces. He tweeted:
3AC Liquidator, Teneo announced they will be selling their NFT Holdings (Excluding the Starry
Potential NFTs Being Sold:
– 11 punks
– 1 BAYC
– 2 MAYC
– 3 Otherdeeds
– 3 Autoglyphs
– 8 PEGZ
Teneo & 3AC NFT Portfolio @DuneAnalytics :https://t.co/J5DK1KQFhH
— Tom Wan (@tomwanhh) February 23, 2023
In the midst of 3AC’s bankruptcy proceedings, members of the community have repeatedly taken to social media to express their discontent with the actions of the 3AC team. On January 3, 3AC founder Su Zhu was questioned on Twitter when he accused Digital Currency Group (DCG) of conspiring with exchange FTX to attack LUNA. Zhu’s efforts to denounce DCG and FTX backfired, with community members urging him to focus on his own misdeeds.
On February 10, members of the cryptocurrency community attacked the newly launched exchange backed by 3AC and Coinflex. Community members were infuriated by the launch, with some swearing never to trade on the exchange and harassing those who do.
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