According to a recent statement, non-fungible tokens (NFTs) belonging to failed hedge firm Three Arrows Capital (3AC) would be liquidated by its liquidators, Teneo.

Christopher Farmer, joint liquidator of 3AC, made the announcement in a notice dated February 22 that the liquidators intend to begin selling NFTs associated with the company. The value of the NFTs would be “realized for settlement purposes,” according to the notice, which highlighted the fact that the sale would take place. The notification will be effective 28 days after the start of sales, according to the statement.

Within the statement, the liquidators made it clear that they would not be listed on the NFT list that has been unofficially called the “Starry Night Wallet.” As part of 3AC’s bankruptcy proceedings, 300 NFTs belonging to 3AC’s subsidiary, Starry Night Capital, were transferred on October 5, 2022. The liquidators drew everyone’s attention to the fact that the supreme court of the British Virgin Islands is currently considering an application related to these NFTs.

Although the announcement did not specify which NFTs would be sold, analyst Tom Wan noted on Twitter which NFTs the liquidators may or may not sell in the future. According to Wan, NFTs have the potential to incorporate certain high-profile elements. In the midst of the process by which 3AC filed for bankruptcy, he tweeted that community members had constantly expressed their discontent on social media over the activities of 3AC staff. On January 3, 2019, 3AC creator Su Zhu came under fire on Twitter for his accusation that Digital Currency Group (DCG) was planning to attack Terra together with the FTX exchange. Zhu’s attempts to denounce DCG and FTX failed, as community members urged him to focus on his own misdeeds rather than the actions of the other two companies.

On February 10, members of the cryptocurrency community attacked the newly created exchange that was supported by 3AC and Coinflex. The release caused outrage among community members, with many of them swearing they would never participate in the exchange again and would harass anyone who did.