Sotheby's auction house to put up for sale owned by Three Arrows Capital NFT

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The oldest auction house Sotheby’s will put up for sale a collection of digital works of art that belonged to the bankrupt cryptocurrency hedge fund Three Arrows Capital.

The auction will featurenon-fungible tokens included in the Three Arrows Capital (TAC) digital collection in 2021. Items on sale include zombies from Larva Labs' CryptoPunk #6649 and Autoglyph #187 collections, as well as Dmitry Chernyak's "Golden Goose". In August 2021, it was purchased by Three Arrows Capital co-founders Su Zhu and Kyle Davies for 1,800 ether.

“This collection marks an important momentin the development of art created using the blockchain. Three Arrows Capital has acquired some of the highest quality and rarest works available on the market. Since NFTs became a bona fide pop culture phenomenon, they continue to attract the attention of major international organizations,” Michael Bouhanna, head of digital art at Sotheby’s, advertises the auction.

Three Arrows Capital fund goes bankrupt in 2022year amid the fall of the cryptocurrency market. TAC's liquidator, Teneo, talked about plans to sell the digital collection back in February to realize the potential value of the NFTs for liquidation. Liquidators of the cryptocurrency lender identified and returned the company’s assets. Later, it was decided to cooperate with the Sotheby’s auction house to sell collectible tokens.

After the collapse of Three Arrows Capital,the whereabouts of the hedge fund's co-founders remain unknown. However, they continue to actively use social networks and even announced the launch of a new project, Open Exchange, a platform for trading cryptocurrency claims.