Amid the continuous downtrend in the non-fungible token (NFT) market trading volume, bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) has managed to turn its financial misfortune into a remarkable success story.
According to a report published by Reuters earlier today, on Friday, Auction house Sotheby’s announced the sale of seven NFTs from the defunct firm, fetching a whooping sum of $2.5 million.
Auction Of Three Arrows’ NFT Assets
Among the collection of NFTs put up for auction, it was the artwork titled “Fidenza #725” that stole the show, commanding an impressive price tag of over $1 million. The visually captivating image, characterized by its graphic dashes and curves in a subtle blend of cream, yellow, pink, and black, garnered significant attention from bidders.
Interestingly, Three Arrows Capital had acquired this particular NFT for 135 ether, equivalent to approximately…
