Nfts
3AC Wallet Acquires NFT From Three-Year-Old Uncanceled Offering
A wallet associated with Three Arrows Capital (3AC), the now-defunct crypto hedge fund, acquired an NFT for 20 ETH, or just under $60,000. It made an offer nearly three years ago, which the NFT’s previous owner accepted after all this time. The 50 ETH offered by 3AC was held in SuperRare’s escrow account — the transaction took place on SuperRare’s NFT marketplace.
Wallets often don’t transmit amounts held in escrow for transactions such as balances, which is why 3AC’s offer went unnoticed by Teneo, the entity in charge of winding down the defunct hedge fund. The wallet’s connection to 3AC was revealed when users noticed the “Three Arrows Capital: OpenSea User (0xFf4)” label associated with this one on Arkham Intelligence.
This fiasco resulted in 3AC coming into possession of NFT #26497 from the Neon Village collection created by artist and designer SeerLight. The auction that sparked this trade was on August 21, 2021, when the NFT was worth much more, and the current seller bought it for 100 ETH, or $360,755. With the transaction, the seller accepted the auction nearly three years later to record losses of over $300,000. SeerLight earned 2 ETH in royalties.
The 3AC purchase came to light when the SuperRare Bot X account posted that someone with the handle “abcdefg” had acquired the NFT.