NFT : Auctions for 3AC’s collection generate $2.5 million

·20/05/2023
·Laeti Marison (SatoshiBelle)

Auction of NFT from 3AC’s collection generated a total of $2.5 million.

Indeed, Sotheby’s recently held an auction of 7 NFTs from the collection of the bankrupt fund 3AC, including works such as Fidenza, Autoglyph and CryptoPunk. The sale brought in almost $2.5 million.

A total of 7 non-fungible tokens were offered for sale. An NFT from the valuable Fidenza by Tyler Hobbs collection, Fidenza #725, sold for just over a million dollars. At the time (in 2021), 3AC had acquired it for around $350,000.

#AuctionUpdate: Impressive in its striking rhythm and movement, Tyler Hobb’s ‘Fidenza #725’ has just sold for $1,016,000, almost 5 times the high estimate. #SothebysGRAILS https://t.co/6cWWdxm6H8 pic.twitter.com/XfFWge2fbd
— Sotheby's Metaverse (@Sothebysverse) May 19, 2023

The sale also included NFTs from other popular series, including CryptoPunk, Autoglyph and Ringers. A second Fidenza (#861) sold for $241,000.

Proceeds from the sale will be used to pay off creditors of the former Singapore-based crypto fund. The liquidators chose to partner with Sotheby’s to maximize the chances of selling the NFTs at high prices.

The New York-based auction house plans to hold further sales as part of Operation GRAILS. Earlier this month, Sotheby’s also announced the launch of “Sotheby’s Metaverse Marketplace”, a secondary market platform for art-related NFT.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.