Nonfungible tokens (NFTs) belonging to the bankrupt hedge fund Three Arrows Capital (3AC) will be sold by its liquidators Teneo, according to a recent announcement.\u00a0<\/p>\n
In a notice dated Feb. 22, Joint Liquidator Christopher Farmer announced that the liquidators are intending to begin the sales of NFTs that belong to 3AC. The announcement highlighted that the sale will be done to \u201crealize the value of the NFTs for the purposes of the liquidation.\u201d According to the announcement, the sales will begin 28 days after the notice. <\/p>\n
Within the announcement, the liquidators clarified that it will not include the list of NFTs that are informally dubbed as the \u201cStarry Night Portfolio.\u201d On Oct. 5, 300 NFTs from 3AC subsidiary Starry Night Capital were moved as part of 3AC’s bankruptcy proceedings. The liquidators highlighted that these NFTs are currently subject to an application before the a supreme court in the British Virgin Islands.<\/p>\n
While the notice did not mention which NFTs will be sold, analyst Tom Wan pointed out on Twitter which NFTs could potentially be sold by the liquidators. According to Wan, the NFTs can include some high-profile pieces. He tweeted:\u00a0<\/p>\n
In the midst of the 3AC bankruptcy process, community members have repeatedly went off on social media to express dissatisfaction over the actions of the 3AC team. On Jan. 3, 3AC founder Su Zhu got called out on Twitter when he accused the Digital Currency Group (DCG) of conspiring with the FTX exchange to attack LUNA. Zhu\u2019s efforts to call out DCG and FTX backfired, with community members urging him to focus on his own misdeeds.\u00a0<\/p>\n