NFTs previously collected by bankrupt Three Arrows Capital have been moved to smart contract wallet safe. The crypto hedge fund once aimed for a $100M NFT collection, which now may be worth less than $1M. RosiePerper reports.
, which sold for about $1.1 million in November 2021; and several CryptoArt NFTs by XCOPY that sold at multiple points last year for around $5.5 million, among others.
The shifting of these assets into a Gnosis Safe is significant, given that the smart contract digital asset management platform requires multiple signatures to move assets – meaning, multiple team members need to approve each transaction in order for it to be executed. This method is helpful for companies that may have multiple owners of a digital portfolio and prevents any single party from running off with the funds inside.
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