Three Arrows Capital NFT Wallets Valued at $25.6 Million, Estimate Suggests
Three Arrows Capital (3AC) and Starry Night NFT wallets could go into receivership any day following the firm's bankruptcy. Estimates of how much the NFTs in the two wallets are worth range from $3 million to more than $25 million, the latter suggested today by DeepNFTValue.
Inside the first wallet is 11 CryptoPunks, three Autoglyphs, multiple Ringers (including "The Goose"), 31 Fidenzas, and more.
Inside the second wallet is more Ringers, more Fidenzas, an Ethernal Pump, and more.
A breakdown of the value of these two wallets by NFT collection is available above. The largest chunk of value comes from Fidenza, which is worth nearly $10 million, according to DeepNFTValue. This is 3x the low-ball evaluation of $3 million mentioned above.
With 11 CryptoPunks, 38 Ringers, and 34 Fidenzas, if these wallets are not properly auctioned off to the greater web3 community, the sales could negatively impact floor prices, especially for 10k pfp collections like CryptoPunks.
A final decision on how to auction off these assets, whether bundled or not, has not yet been made. For suggestions on how to appropiately handle the auction, see Nikolai Yakovenko's full article for DeepNFTValue here.
DeepNFTValue is an algorithm-based platform that uses deep neural networks to value CryptoPunks and other NFT projects. It is widely considered one of the most accurate value projection tools on the market at this time.