On Wednesday, Sotheby’s, one of the world’s largest brokers of fine and decorative art, announced its plans to auction a number of non-fungible token (NFT) assets that were previously owned by the now-defunct crypto hedge fund Three Arrows Capital (3AC). The auction, called the “Grails” NFT collection, will take place during Marquee Sale Week at the firm’s New York location.
Sotheby’s Introduces the ‘Grails’ NFT Collection
In July of last year, the crypto hedge fund Three Arrows Capital (3AC) filed for bankruptcy protection, and Teneo took over as the liquidator for the firm. In February, Teneo announced its intentions to sell a significant non-fungible token (NFT) collection that the now-insolvent company had amassed. Sotheby’s, the luxury auction house founded in 1744, will auction several of 3AC’s blue-chip NFTs under the name “Grails Collection.”
On Wednesday, Sotheby’s tweeted about the upcoming auction, which will begin on May 19, 2023. The auction house
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