Shalini Nagarajan

<div id="highlights-block_6319a0f7648bd" class="highlights">
 <ul>
 <li>Voyager last said it was in active discussions with 22 interested parties, but didn’t name them</li>
 <li>FTX/Alameda, Binance and Coinbase have reportedly shown interest in the lender’s assets</li>
 </ul>
 
</div>



Voyager Digital will part with its remaining assets at an auction scheduled for next week, two months after <a href="https://cms.blockworks.co/voyager-files-for-bankruptcy-days-after-freezing-withdrawals/" target="_blank" rel="noreferrer noopener">filing for bankruptcy</a>. 



A <a href="https://cases.stretto.com/public/x193/11753/PLEADINGS/1175309072280000000008.pdf" target="_blank" rel="noreferrer noopener">court document</a> filed Tuesday showed the auction will take place on Sept. 13 at 10 am ET at the New York office of Voyager’s investment banker Moelis &amp; Company. The results will be announced at a court hearing on Sept. 29 at 2 pm ET. 



Holding an auction implies that Voyager received more than one substantial bid for its assets. Finalization of the best bidder would be the first step for customers to recover their funds locked on the brokerage’s platform.



In bankruptcy auctions, a debtor may decide to liquidate its debt by allowing external parties to bid on its possessions. The external parties view this as an opportunity to buy high-cost assets at a cheaper price. Post the auction, proceeds are generally meant to go to creditors.



Voyager’s lawyers have previously said <a href="https://cms.blockworks.co/bankrupt-voyager-higher-and-better-bids-than-ftx-low-ball-on-table/" target="_blank" rel="noreferrer noopener">88 interested parties</a> had reached out to the firm, but there may have been more after the deadline for bids extended from August 26 to Sept. 6. At the time, it was in active discussions with 22 parties. 



The lender hasn’t disclosed which parties have shown interest, but Sam Bankman-Fried made a joint offer via Alameda Ventures and FTX in late July. Voyager was quick to reject that proposal, describing it as a “low-ball bid dressed up as a white knight rescue.”



Binance is another major player in the industry that was interested in snapping up Voyager’s distressed assets, while Coinbase reviewed an offer but pulled out, according to <a href="https://www.coindesk.com/business/2022/08/25/binance-ftx-among-crypto-players-in-hunt-to-buy-voyager-digital-assets-as-coinbase-backs-out-sources/" target="_blank" rel="noreferrer noopener">CoinDesk</a>.



Aside from seeking a buyer, Voyager has been attempting to extricate customer funds. Last month, it got court clearance to <a href="https://www.wsj.com/articles/voyager-digital-to-return-270-million-to-customers-11659648633" target="_blank" rel="noreferrer noopener">return $270 million</a> to customers. Another $1.3 billion in digital assets on the company’s platform will be distributed among creditors during bankruptcy proceedings.



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Voyager To Liquidate Assets at Auction

Morgan Chittum

<div id="highlights-block_62193847671c7" class="highlights">
 <ul>
 <li>The original tweet advertising the NFT auction has since been deleted by the AP</li>
 <li>AP launched its photojournalism NFT marketplace at the end of January</li>
 </ul>
 
</div>



Following widespread outcry, the Associated Press has nixed the sale of a video NFT depicting an overcrowded group of migrants clinging to an inflatable raft in the Mediterranean.



The 145-year-old news collective initially touted the NFT (non-fungible token) sale, slated to begin Friday, on Twitter. The AP backtracked Thursday night in the face of heavy social media criticism.



“Tomorrow’s drop at noon EST on the AP Photography NFT Marketplace will feature video by @felipedana of migrants drifting in an overcrowded boat in the Mediterranean,” the agency wrote in a tweet that has since been deleted.



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" width="608" height="1024" src="https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-608x1024.jpg" alt="" class="wp-image-17967" srcset="https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-608x1024.jpg 608w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-178x300.jpg 178w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-768x1293.jpg 768w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-912x1536.jpg 912w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-153x257.jpg 153w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-155x261.jpg 155w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-130x219.jpg 130w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-48x80.jpg 48w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872-30x50.jpg 30w, https://cms.blockworks.co/wp-content/uploads/2022/02/IMG_9872.jpg 1125w" sizes="(max-width: 608px) 100vw, 608px" /><figcaption>A screenshot of the now-deleted Associated Press tweet</figcaption></figure></div>



The sale illuminates questions about journalism as a public service — especially when it comes to <a href="https://www.theguardian.com/technology/2022/feb/24/profiting-off-suffering-ap-cancels-sale-of-migrant-boat-nft-amid-backlash" target="_blank" rel="noreferrer noopener">laying bare human suffering</a> and uncovering inequities — and profiting from those accounts.



“The Associated Press is lost. Journalists at this organization should speak up and say, “When we document human suffering, the purpose is to inform the world, not to profit off NFT sales,” Michael David Smith, managing editor at NBC Sports, <a href="https://twitter.com/MichaelDavSmith/status/1496986139269419009?s=20&amp;t=Q8rMWjM3gmTwUzBic66bNA" target="_blank" rel="noreferrer noopener">tweeted</a>.



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">The Associated Press is lost. Journalists at this organization should speak up and say, &quot;When we document human suffering, the purpose is to inform the world, not to profit off NFT sales.&quot; <a href="https://t.co/SaBVNSpDsH">https://t.co/SaBVNSpDsH</a>&mdash; Michael David Smith (@MichaelDavSmith) <a href="https://twitter.com/MichaelDavSmith/status/1496986139269419009?ref_src=twsrc%5Etfw">February 24, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Software engineer and Web3 writer Molly White said the decision to “monetize a video of human suffering” made obsolete “any goodwill the AP might have had for their NFT project.”



“The already horrific NFT announcement was particularly ill-timed, given its juxtaposition on many Twitter feeds amongst news of Russian military action against Ukraine,” White <a href="https://web3isgoinggreat.com/?id=2022-02-24-1" target="_blank" rel="noreferrer noopener">tweeted</a>.



Lauren Easton, an AP spokesperson, told Blockworks in a statement that the NFT was “a poor choice of imagery” that “has not or will not be up for auction.”



“AP’s NFT marketplace is a very early pilot program, and we are immediately reviewing our efforts,” Easton said. “As a not-for-profit, AP’s mission is to inform the world with accurate, unbiased journalism. That remains our primary focus.”



AP <a href="https://cms.blockworks.co/associated-press-archive-photography-to-be-sold-via-nfts/" target="_blank" rel="noreferrer noopener">first launched</a> its photography NFT marketplace at the end of January, then billed as a way to give “collectors the opportunity to access AP archives and collect unique NFTs — including AP’s Pulitzer Prize-winning images.”



The marketplace has since released NFTs on a rolling basis, with prices ranging from $219 to $1,799. Proceeds go to the non-profit newsroom.



“AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” Dwayne Desaulniers, AP director of blockchain and data licensing, previously told Blockworks. “As new audiences and opportunities emerge on-chain and adopt the benefits of NFTs, we’re watching closely and responding in order to find the right models to present AP journalism on-chain.”



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AP Calls Off Sale of Stranded Migrants NFT After Twitter Outcry

<div id="highlights-block_6216a9a629309" class="highlights">
 <ul>
 <li>The NFTs were valued at $20 million to $30 million</li>
 <li>The group of CryptoPunks were originally acquired in a single transaction by collector “0x650d”</li>
 </ul>
 
</div>



Sotheby’s did not auction off the 104 CryptoPunks originally slated for Wednesday evening. In a turn of events for the New York auction house, the bid was withdrawn.



Derek Parsons, senior press officer of Sotheby’s Americas, told Blockworks in an email that the CryptoPunks were withdrawn prior to the sale following “discussions with the consignor.”



“nvm, decided to hodl,” the pseudonymous consignor of the auction <a href="https://twitter.com/0x650d/status/1496646517003800578?s=20&amp;t=VNVK5V6cEDJmhAwPiZFIqw" target="_blank" rel="noreferrer noopener">tweeted</a> following Sotheby’s <a href="https://twitter.com/Sothebysverse/status/1496641937083969543?s=20&amp;t=EIa07KM8FifubypGLMT2DQ" target="_blank" rel="noreferrer noopener">announcement.</a>&nbsp;



The withdrawal announcement was made in the crowded auction room roughly 23 minutes after bidding was scheduled to commence. However, onlookers were encouraged to enjoy an afterparty with live music by DJ Seed Phrase.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">nvm, decided to hodl <a href="https://t.co/WdQ5H7I0fl">https://t.co/WdQ5H7I0fl</a>&mdash; 0x650d (@0x650d) <a href="https://twitter.com/0x650d/status/1496646517003800578?ref_src=twsrc%5Etfw">February 24, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Two sources familiar with the matter told Blockworks that there were not enough bidders on the single-lot auction. Sotheby’s declined to comment on any logistics regarding bidders.&nbsp;



The group of CryptoPunks were originally acquired together in a single transaction by anonymous collector “0x650d.” CryptoPunks were released in 2017 by studio Larva Labs and currently have a floor price of $177,663, according to blockchain data dashboard <a href="https://nftpricefloor.com/cryptoPunks" target="_blank" rel="noreferrer noopener">NFT Price Floor</a>.



The NFTs (non-fungible tokens) were valued at $20 million to $30 million.



Michael Bouhanna, co-head of digital art at Sotheby’s, had earlier described the sale as a “first-of-its kind” due to its focus on CryptoPunks in the auction house’s Feb. 8 <a href="https://cms.blockworks.co/sothebys-set-to-auction-off-104-cryptopunks-valued-at-20m-to-30m/" target="_blank" rel="noreferrer noopener">announcement</a>.



“CryptoPunks are the original PFP [profile picture] series that created the template for other NFT projects that have followed, and which helped propel NFTs to the global stage as one of the most recognizable visual styles that have become synonymous with the digital art movement,” Bouhanna said in a statement.&nbsp;



Last year, Sotheby’s launched an NFT marketplace and sold $100 million worth of the blockchain-based digital collectibles, according to an annual <a href="https://cms.blockworks.co/sothebys-reports-100m-in-nft-sales-attracts-younger-tech-savvy-collectors/" target="_blank" rel="noreferrer noopener">report</a> from the auction house.



Bouhanna told Blockworks that NFT sales have expanded Sotheby’s audience reach to a “whole new group of collectors.”&nbsp;



“I think we will continue to see growth of new collectors at Sotheby’s who come to us via our NFT sales, as well as more art collectors more familiar with contemporary and modern art exploring NFTs as they continue to become more prominent in pop culture,” Bouhanna said.



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Sotheby’s CryptoPunk Auction Canceled After Seller Withdraws

<div id="highlights-block_620eb6ad49980" class="highlights">
 <ul>
 <li>The new collection will consist of 10,000 NFTs and each will cost $50</li>
 <li>The forthcoming sale will begin on Feb. 21 — Presidents’ Day</li>
 </ul>
 
</div>



Despite <a href="https://www.bloomberg.com/news/articles/2022-02-16/who-won-the-melania-trump-nft-auction-trump-crypto-wallet-linked-to-185k-funds" target="_blank" rel="noreferrer noopener">reports</a> that Melania Trump herself won an auction for her first NFT, the former first lady is rolling out another set of digital collectibles.



“POTUS NFT Collection” will “recognize important moments in [America’s] history,” such as NFTs (non-fungible tokens) depicting Mount Rushmore, the White House and Air Force One, Trump said in a statement. Up for sale: 10,000 solana NFTs priced at $50.



“Collectors will enjoy an element of surprise, as the artwork of each NFT is revealed only after purchase,” Trump said. “Of course, collectors can make multiple purchases to own the entire POTUS Trump Collection.”



The sale is set to begin on Feb. 21 — Presidents’ Day.



Trump’s NFT efforts are in question after <a href="https://www.bloomberg.com/news/articles/2022-02-16/who-won-the-melania-trump-nft-auction-trump-crypto-wallet-linked-to-185k-funds" target="_blank" rel="noreferrer noopener">Bloomberg reported</a> the former first lady purchased her first NFT herself. The funds used to purchase Trump’s collection were traced back to a wallet that belongs to the creators of the project.



Trump announced her <a href="https://melaniatrump.com/head-of-state" target="_blank" rel="noreferrer noopener">“Head of State Collection”</a> late last year, which featured a white hat, along with a painting of herself and voice recording, as part of the “historic auction.”  Although the starting bid was $250,000, the NFT sold for roughly $180,000.



A spokesperson for Trump denied that the project&#8217;s creator purchased its NFT.



&#8220;The nature of Blockchain protocol is entirely transparent. Accordingly, the public can view each transaction on the [blockchain],” a representative said in a <a href="https://www.bloomberg.com/news/articles/2022-02-16/who-won-the-melania-trump-nft-auction-trump-crypto-wallet-linked-to-185k-funds" target="_blank" rel="noreferrer noopener">statement</a>. “The transaction was facilitated on behalf of a third-party buyer.”



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Melania Trump Announces ‘POTUS NFT Collection’ Amid Controversy

<div id="highlights-block_6202a22b4b83d" class="highlights">
 <ul>
 <li>Sotheby’s previously sold one CryptoPunk NFT for $11.8 million in June 2021</li>
 <li>The auction house sold $100 million worth of NFTs in 2021, according to its annual report</li>
 </ul>
 
</div>



Sotheby’s will auction 104 CryptoPunks Feb. 23, the New York auction house said Tuesday. The NFTs carry an estimated value of $20 million to $30 million.



Michael Bouhanna, Sotheby’s co-head of digital art, described the sale as a “first-of-its kind” and “monumental” in part due to its focus on CryptoPunks.



“CryptoPunks are the original PFP series that created the template for other NFT projects that have followed, and which helped propel NFTs to the global stage as one of the most recognizable visual styles that have become synonymous with the digital art movement,” Bouhanna said in a statement.&nbsp;



The group of CryptoPunks set to be auctioned was originally acquired together in a single transaction by the anonymous collector “0x650d.” CryptoPunks, which were released in 2017 by studio Larva Labs, currently have a floor price of $210,374 each, according to crypto data provider <a href="https://nftpricefloor.com/cryptoPunks" target="_blank" rel="noreferrer noopener">NFT Price Floor</a>.



For the evening auction, Sotheby’s will accept cryptocurrencies like bitcoin and ether, as well as fiat currencies. All 104 CrypoPunks will be bundled together in a single-lot sale.&nbsp;



However, this isn&#8217;t Sotheby&#8217;s first foray into blockchain-based digital collectibles.



Sotheby’s <a href="https://cms.blockworks.co/sothebys-reports-100m-in-nft-sales-attracts-younger-tech-savvy-collectors/" target="_blank" rel="noreferrer noopener">launched</a> an NFT (non-fungible token) marketplace called Sotheby’s Metaverse in October 2021,&nbsp; making it the first auction house to start such a platform. Sotheby’s earlier sold CryptoPunk #7523 for $11.8 million in June 2021.



The auction house dubbed its performance in 2021 as “the strongest total in [the] company’s 277-year history,” in an <a href="https://cms.blockworks.co/sothebys-reports-100m-in-nft-sales-attracts-younger-tech-savvy-collectors/" target="_blank" rel="noreferrer noopener">annual report</a>, in part due to its $100 million of NFT sales.



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