3AC liquidators to sell firm's NFTs to realize value amid bankruptcy
The announcement said that the sales will be commencing 28 days after Feb. 22, when the notice went out. 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. 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 “realize the value of the NFTs for the purposes of the liquidation.” According to the announcement, the sales will begin 28 days after the notice. Within the announcement, the liquidators clarified that it will not include the list of NFTs that are informally dubbed as the “Starry Night Portfolio.” 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...