Sotheby’s will set an auction next week, breaking the record for the highest number of NFT auctions ever.
The company will auction more NFTs than 3AC’s NFT collection “Grails” in the “biggest ever” sale of its kind.
Sotheby’s Prepares for Largest NFT Sale of Its Kind
Sotheby’s will auction more NFTs than 3AC’s “Grails” NFT collection in the “biggest ever” sale of its kind at auction next month. The dozens of NFTs featured in this collection were owned by its former owner, crypto hedge fund Three Arrows Capital. Sotheby’s aims to generate over $5 million from this sale.
Digital art professionals will have the opportunity to purchase blue-chip, NFTs from Three Arrows Capital’s “Grails” collection, which are no longer available, at auction next month. Sotheby’s will auction a total of 37 “Grails” NFTs, calling the event “the largest digital art live auction ever.” More than $5 million is expected from sales.
The NFTs put up for auction have an intriguing story about how their former owner, Three Arrows Capital, was a past major crypto venture capital investor and the trading store went bankrupt. NFTs were among the assets seized as part of the bankruptcy process that began in July.
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