NFTs belonging to bankrupt crypto firm fetch nearly $2.5 million at auction

Auction house Sotheby’s announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about $2.5 million.

Of the tokens, “Fidenza #725,” an image with graphic dashes and curves in a muted palette of cream, yellow, pink and black, fetched the highest price at over $1 million. Three Arrows Capital purchased it for 135 ether in 2021, equal to about $341,786 at the time, according to DappRadar.

The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators.