KEY POINTS
British auction house Sotheby’s is gearing up to auction a set of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) that were once owned by the now-defunct Three Arrows Capital (3AC).
This collection includes four NFTs: BAYC #8552, two Mutant Ape Yacht Club (MAYC) NFTs, and Bored Ape Kennel Club (BAKC) #7075. Their gold traits and fur characteristics distinguish these NFTs.
According to OpenSea data, BAYC #8552 has a floor price of 12.1 ETH, equivalent to over $45,800. Sources from X (formerly Twitter) indicate that 3AC acquired this NFT in 2021 for 95 ETH, which was worth more than $420,000 at that time. The BAKC #7075 was bought for 11 ETH, approximately $50,000, while the two MAYC NFTs were “magically created.”
Michael Bouhanna, Sotheby’s VP and Head of Digital Art & Contemporary Art Specialist, posted an image of BAYC #8552 on X, stating, “This 2021 relic will come up at auction in a few days. Let’s see where this is going today.”
The auction is set to start on June 18, although the auction page is not yet available on the Sotheby’s website.
This is not the first instance of Sotheby’s auctioning assets from 3AC, a cryptocurrency hedge fund based in Singapore that was ordered to liquidate in 2022.
In April 2023, Sotheby’s introduced “GRAILS,” a collection of significant NFTs accumulated by 3AC over time. A report from May 2023 revealed that the Part 1 auction of “GRAILS” achieved nearly $2.5 million in sales.
The auction featured seven digital artworks from some of the most influential artists in the Web3 space, including pieces by CryptoPunks, Tyler Hobbs, and Larva Labs.
In June 2023, Sotheby’s continued to sell artworks from the bankrupt hedge fund in a second part of the auction, which raised nearly $11 million.
