Sotheby's auction to sell NFTs confiscated from Three Arrows Cap

Sotheby’s is preparing to sell NFTs confiscated from Three Arrows Capital (3AC). 3AC’s liquidator, Teneo, issued a notice in February outlining an intention to sell a large batch of NFTs estimated to be worth millions of dollars to cover some of the losses.
Sotheby’s announced in a press release Wednesday that it will hold a multi-part auction featuring NFTs from the Grails collection. The Grails collection is primarily part of the portfolio that 3AC will form in 2021. Sotheby's called the Grails collection "the most important digital artwork ever created."