Teneo, the liquidator of Three Arrows Capital (3AC), said it will begin selling several non-fungible tokens (NFTs) belonging to bankrupt cryptocurrency hedge funds, according to a statement dated Feb. 22.
Teneo clearly It said the purpose of the sale was to “realize the value of the NFTs for liquidation purposes.” He added that sales will begin within the next 28 days.
The sale will not affect the Starry Nights Portfolio, which is currently “pending the Supreme Court of the Eastern Caribbean in the High Court of the British Virgin Islands,” Teneo said.
The Starry Night Portfolio contained over 300 NFTs that were moved to Gnosis Safe addresses in October 2022. The portfolio belonged to Starry Night Capital, his NFT-focused subsidiary of 3AC, which he launched in 2021 with the help of his NFT collector Vincent Van Dough.
Meanwhile, Tom Wan, a research analyst at 21co, said: Said NFTs such as CryptoPunks, Bored Ape, Otherdeeds and Autoglphys may be sold.
3AC is one of several cryptocurrency companies that have yielded in the past year. Liquidators have accused hedge fund co-founders Su Zhu and Kyle Davis of being uncooperative.