Three Arrows Capital’s NFTs Are on the Move

Three Arrows Capital’s NFTs Are on the Move
5 October 2022

Starry Night Capital, the NFT fund established by embattled crypto hedge fund Three Arrows Capital (3AC) and pseudonymous collector Vincent Van Dough, has moved most of its NFTs from to a new wallet – a Gnosis Safe wallet.

Gnosis Safe is a multi-sig, Ethereum-based wallet that requires multiple signatures to approve transactions. At the time of writing, 463 NFTs have been moved into the Gnosis Safe wallet, with the previous wallet now containing a single empty “Starry Night Pepe Collection” vault card.

Read more: 3AC Built an Impressive NFT Portfolio – It’s at Risk of Falling Apart

Data from Nansen shows that some of the NFTs moved include the Pepe the Frog NFT Genesis, which sold in October 2021 for about US$3.5 million, and a Fidenza, which sold for about US$1.1 million in November 2021. Starry Night’s collection also includes CryptoPunks, Rare Pepes, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (MAYC).

It’s believed that Starry Night Capital spent over US$35 million on its NFTs, according to an incomplete Dune Analytics dashboard. However, Nansen pegs the current value of the NFTs at 625 ETH (approximately US$846,000), with 89% of the NFTs having low liquidity (less than 35 sales in the last 7 days).

Established by 3AC at the peak of the NFT boom, Starry Night Capital partnered with well-known NFT collector Vincent Van Dough to assemble “the world’s finest collection of CryptoArt,” according to its inactive Twitter account.

It announced itself to the world by acquiring an Art Blocks Ringers NFT from artist Dmitri Cherniak for US$5.66 million in ETH.

Blockhead Team
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