Latest Autoglyphs News
Three Arrows Capital's (3AC) extensive NFT collection is expected to enter liquidation, according to a notice by Teneo placed yesterday in the British Virgin Islands.
❗Why It Matters
The failed hedge fund holds many valuable NFTs in its collection, which could be worth at least $6m at current market prices. The crown jewel of the collection may be "The Goose," arguably the most iconic work from Dmitri Cherniak's "Ringers" collection. 3AC acquired The Goose in August of 2021 for 1,800 ETH (nearly $3m USD at the time).
🔎 The Details
Other notable NFTs in 3AC's collection include:
- Bored Ape Kennel Club (1)
- Many NFTs from various Art Blocks collections, most notably 30 Fidenzas and 17 Ringers
- Autoglyphs (3)
- CryptoPunks (11)
- ACK Unique Editions 1-of-1
- Where My Vans Go (1)
View the entire collection here.
🧠 Need to Know
- The liquidation of 3AC's NFT collection will not include the Starry Night Capital portfolio. The Starry Night collection was assembled by VincentVanDough on behalf of 3AC, and it is considered a separate entity.
🎤 Community Feedback
Autoglyph #458 sold minutes ago for 235 ETH, boosting the floor price on the NFT art project to nearly $600,000 (449 ETH).
There are only seven total Autoglyph artworks listed and only 512 in the collection.
The artwork sold to markkat, an active NFT art collector, who recently bought Ringers by Dmitri Cherniak, Fidenza by Tyler Hobbs, and QQL. All those purchases came within the last hour and total over 440 ETH.
The buying spree seems to have slowed for the moment.
The seller was sebdcl, who has actively been purchasing Decentraland NFTs over the last week. This could provide liquidity for more purchases in the coming hours or days.
The Fidenza by Tyler Hobbs floor price is currently 96 ETH, while the Ringers by Dmitri Cherniak floor price is currently 60 ETH. The QQL floor price is currently 23.8 ETH.
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.
