NFTs belonging to bankrupt crypto firm fetch nearly $2.5M at auction

By Reuters   May 19, 2023 | 05:06 pm PT
NFTs belonging to bankrupt crypto firm fetch nearly $2.5M at auction
Visitors are pictured in front of an immersive art installation titled "Machine Hallucinations - Space: Metaverse" by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sotheby's, at the Digital Art Fair, in Hong Kong, September 30, 2021. Photo by Reuters/Tyrone Siu
Auction house Sotheby's announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about $2.5 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 $1 million. Three Arrows Capital purchased it for 135 ether in 2021, equal to about $341,786 at the time, according to DappRadar.

The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators.

 
 
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