Auction house Sotheby's announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about US$2.5 million (S$3.3 million) Of the tokens, 'Fidenza #725,' an image with graphic dashes and curves in a muted palette of cream, yellow, pink and black, fetched the highest price at over US$1 million. Three Arrows Capital purchased it for 135...
A representation of cryptocurrency Ethereum is seen next to non-fungible tokens of Yuga Labs "Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken on March 24, 2022.Auction house Sotheby's announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about US$2.5 million
The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators. The company at the time estimated its assets at around US$1 billion, with its extensive non-fungible token collection valued at about US$22 million, according to a filing seen by cryptocurrency news site The Block.
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