Three Arrows Capital NFT assortment liquidated as a part of chapter proceedings
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Teneo, the liquidation agency dealing with Three Arrows Capital’s (3AC) chapter course of, has disclosed that it had taken possession of non-fungible tokens (NFTs) belonging to the embattled digital property hedge fund.
A Bloomberg report said that the NFTs had been associated to Starry Evening Capital, a fund created by 3AC co-founders. The report valued the holdings at round $35 million, a far cry from the $2.8 billion the agency owes its collectors.
Confirming that it was in possession of the digital collectibles, Teneo stated it will start promoting the NFTs at a good market worth. The fund was created by the trio of Su Zhu, Kyle Davies, and Vincent Van Dough (VVD) with the central goal of “investing in the most desired NFTs.”
“We would like to make clear that VVD has cooperated with the joint liquidators in an effort to protect the value of these assets for the benefit of all relevant stakeholders and has sought to ensure that no Starry Night Portfolio assets would be disposed of improperly, or without the sanction of the BVI Court if required,” learn the report.
The NFTs in query exceed 300, and on-chain knowledge agency Nansen confirmed that the digital collectibles embrace extremely sought-after NFTs like Pepe the Frog NFT Genesis that offered for $3.5 million final 12 months.
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