As a seasoned crypto investor with a keen eye for market trends, I find this story both intriguing and disheartening. The fact that a wallet linked to Three Arrows Capital (3AC), a now-defunct hedge fund, acquired an NFT worth nearly $60,000 three years ago without drawing attention is an interesting twist in the world of cryptocurrencies and non-fungible tokens (NFTs).
Three Arrows Capital (3AC), the formerly active crypto hedge fund, owned a digital wallet that recently purchased an NFT for approximately $60,000, equivalent to 20 Ether, on the SuperRare NFT marketplace. This transaction was initiated over three years ago when 3AC placed a bid, which the previous owner ultimately accepted. During this period, the escrow service of SuperRare held the 50 Ether offered by 3AC as security for the trade.
In the world of cryptocurrency trading, wallets typically do not disclose the amount of funds earmarked for escrow transactions, which was the case with 3AC’s bid that went unnoticed by Teneo during the defunct hedge fund’s liquidation process. The link between 3AC and this wallet became apparent when observant users noticed the label “Three Arrows Capital: OpenSea User (0xFf4)” affiliated with it on Arkham Intelligence.
This fiasco caused 3AC to come in possession of NFT #26497 from the Neon Village collection created by the artist and designer SeerLight. The bid causing this exchange was made on August 21, 2021, when the NFT was worth much more, and the current seller purchased it for 100 ETH or $360,755. With the transaction, the seller accepted the bid nearly three years later to register losses of over $300,000. SeerLight made royalties of 2 ETH.
As a crypto investor, I came across some intriguing news when the transaction history of the SuperRare Bot X account revealed that an anonymous user with the pseudonym “abcdefg” had purchased an NFT from them.
Image by Jan Vašek from Pixabay
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2024-07-08 13:40