{"id":77531,"date":"2023-04-20T10:24:54","date_gmt":"2023-04-20T07:24:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77531"},"modified":"2025-09-10T23:50:46","modified_gmt":"2025-09-10T20:50:46","slug":"sothebys-to-auction-nft-collection-from-hedge-fund-3ac","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sothebys-to-auction-nft-collection-from-hedge-fund-3ac\/","title":{"rendered":"Sotheby\u2019s to auction NFT collection from hedge fund 3AC"},"content":{"rendered":"<p>Sotheby\u2019s will hold auctions for the collection <a href=\"https:\/\/forklog.com\/en\/news\/what-are-nfts\">non-fungible tokens<\/a> of the bankrupt hedge fund Three Arrows Capital (3AC).<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">One of the most significant collections of digital art ever assembled is coming to auction at Sotheby\u2019s across a series of multiple sales throughout 2023. <\/p>\n<p>It all starts 19 May during the Marquee Sale Week at Sotheby\u2019s New York. <a href=\\\"https:\/\/t.co\/SrjdtubD3W\\\">https:\/\/t.co\/SrjdtubD3W<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/SothebysGRAILS?src=hash&#038;ref_src=twsrc%5Etfw\\\">#SothebysGRAILS<\/a> <a href=\\\"https:\/\/t.co\/AoXRNAbUq7\\\">pic.twitter.com\/AoXRNAbUq7<\/a><\/p>\n<p>\u2014 Sotheby\u2019s Metaverse (@Sothebysverse) <a href=\\\"https:\/\/twitter.com\/Sothebysverse\/status\/1648734312705949724?ref_src=twsrc%5Etfw\\\">April 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>A multi-part sale series will kick off in May and run through the year.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The Grails collection previously belonging to 3AC includes: <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cryptopunks\">CryptoPunk<\/a> #6649 in zombie style, Ringers #879 by Dmitry Chernyak and Fidenza #216 by Tyler Hobbs.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"346\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-20-v-09.54.50-1024x346.png\\\" alt=\\\"Snimok-ekrana-2023-04-20-v-09.54.50\\\" class=\\\"wp-image-204892\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-20-v-09.54.50-1024x346.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-20-v-09.54.50-300x101.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-20-v-09.54.50-768x260.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-20-v-09.54.50.png 1428w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Lots from the 3AC collection. Data: <a href=\\\"http:\/\/sothebys.com\\\">sothebys.com<\/a>.<br \/><\/figcaption><\/figure>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThis expansive collection marks an important milestone in the growth of generative art on the blockchain in 2021 and is based on the idea of acquiring the highest-quality and rarest works available on the market,\u201d said Michael Buchanan, head of Sothe\u2019s.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>At the height of its activity, 3AC spent substantial sums on collectible tokens. The hedge fund purchased Ringers #879, known as the \u201cGolden Goose,\u201d for 1800 ETH \u2014 $5.6 million at the time of the deal.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier, the 3AC liquidator, consulting firm Teneo, had already <a href=\"https:\/\/forklog.com\/en\/news\/liquidators-to-sell-3ac-nft-collection\">reported<\/a> plans to sell the collection of the bankrupt entity. Zerion valued the tokens at $6.4 million based on base prices.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In June 2022, a Virgin Islands court <a href=\"https:\/\/forklog.com\/en\/news\/british-virgin-islands-court-orders-liquidation-of-three-arrows-capital\">ordered the liquidation of 3AC<\/a>. In July the company filed in the US for <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-seeks-chapter-15-bankruptcy-protection-in-the-united-states\">bankruptcy protection<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>As reported in April 2023, co-founders Su Zhu and Kyle Davies <a href=\"https:\/\/forklog.com\/en\/news\/3ac-founders-launch-crypto-exchange-opnx-and-announce-flex-token-airdrop\">launched<\/a> the cryptocurrency exchange OPNX.<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sotheby\u2019s will hold auctions for the collection of non-fungible tokens of the bankrupt hedge fund Three Arrows Capital (3AC).<\/p>\n","protected":false},"author":1,"featured_media":77532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[526,1213,1352],"class_list":["post-77531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-auction","tag-nft","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=77531"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77531\/revisions"}],"predecessor-version":[{"id":77533,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77531\/revisions\/77533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/77532"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=77531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=77531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=77531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}