Court-appointed liquidator of Three Arrows Capital (3AC), Teneo, announced that it will sell a multimillion-dollar portfolio of seized NFTs, media reports said on Friday. The sale will take place via a public auction, and the assets include some of the most valuable and rare NFTs in the market. 3AC was a Singapore-based firm that filed for bankruptcy in June 2022 with estimated assets of around $1 billion, including NFTs worth about $22 million.
However, the authorities have seized these NFTs and other assets as part of the bankruptcy proceedings and will be put to auction to recover money and pay to the creditors.
The auction will feature a wide range of NFTs, including digital art pieces, virtual real estate, and other types of digital assets. Some of the most notable NFTs include the first-ever tweet by Twitter CEO Jack Dorsey, a CryptoPunk avatar, and a rare Bored Ape Yacht Club NFT.
The sale is expected to generate significant interest from NFT collectors and investors, given the rarity and value of the assets on offer. The current market for NFTs has been growing rapidly in recent months, with several high-profile sales setting new records for the value of digital assets.
3AC liquidators has stated that the auction will be conducted transparently and fairly, with all bids considered on their merit. The proceeds of the sale will be used to compensate the victims of the fraud as well as cover the costs of the investigation and legal proceedings.
