Bankrupt cryptocurrency fund Three Arrows Capital’s NFTs fetch $10.9 million at Sotheby’s

A set of non-fungible tokens previously bought by bankrupt cryptocurrency hedge fund Three Arrows Capital sold for $10.9 million at Sotheby’s in New York on Thursday, the auction house said.

Three Arrows Capital, which filed for US bankruptcy a year ago, spent $15.5 million worth of cryptocurrency on the 37 NFTs in a series of purchases in July and August 2021, data from blockchain tracker DappRadar showed.

Non-fungible tokens (NFTs) are a blockchain-based asset that represents ownership of a digital item such as an image, video or piece of text.