Sotheby’s, the world’s oldest auction house, is set to sell a unique collection of digital artworks that once belonged to the now-bankrupt cryptocurrency hedge fund, Three Arrows Capital.
The auction will showcase several non-fungible tokens (NFTs) from the Three Arrows Capital Digital Collection.
lncluding popular pieces such as zombies from the CryptoPunk #6649 and Autoglyph #187 collections from Larva Labs, as well as Dmitry Chernyak’s The Golden Goose.
The latter was purchased by Three Arrows Capital co-founders Su Zhu and Kyle Davies in August 2021 for 1,800 Ether.
According to Michael Bouhanna, head of digital art at Sotheby’s, this collection represents a significant moment in the evolution of blockchain art, as Three Arrows Capital had acquired some of the rarest and finest works available in the market.
Despite the fall of the cryptocurrency market and Three Arrows Capital’s subsequent bankruptcy in 2022, the NFT collection is still considered valuable and has attracted the attention of major international organizations.
In February, the TAC liquidator Teneo announced plans to sell the digital collection to realize the potential liquidation value of NFTs.
The liquidators successfully identified and returned the company’s assets and then decided to collaborate with Sotheby’s auction house for the sale of the collectible tokens.
Since the collapse of Three Arrows Capital, the co-founders’ whereabouts remain unknown, but they have continued to actively use social networks and even announced the launch of a new platform called Open Exchange, which is designed for trading cryptocurrency claims.