Create the most beautiful collection of NFTs
Three Arrows Capital investment fund launches fund focused on acquiring high value non-fungible tokens (NFTs). The fund called “Starry Night Capital” was notably co-founded by famous NFT collector Vincent Van Dough.
Van Dough announced the creation of the fund explaining the investment thesis:
“Our thesis is simple, we believe that the best way to expose oneself to the change of cultural paradigm induced by NFTs is to own the most coveted pieces. “
Starry Night Capital hopes to launch a physical gallery in a major city, launch an educational platform dedicated to NFTs, and explore other “community building initiatives” by the end of the year.
Starry Night Capital’s first significant acquisition is an NFT from the Art Blocks project from Dmitri Cherniak’s Ringers Collection. The artwork, which was generated on Ethereum (ETH) with an algorithm, sold for 1,800 ETH or around $ 5.66 million.
Other activities of Three Arrows Capital
The main activity of Three Arrows Capital is to invest in the crypto-blockchain industry. According to the website, the fund holds cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Polkadot (DOT) and Avalanche (AVAX).
The fund has also invested in several decentralized finance (DeFi) protocols, we can mention Aave, SushiSwap (SUSHI), Balancer (BAL) and decentralized exchange (DEX) dYdX.
The investment fund also declared a large stake in the Grayscale Bitcoin Trust last January, holding nearly 38.9 million shares, or about 6.1% of the total issued shares at the time of disclosure. This represents a position of around 36,969 BTC or nearly $ 1.7 billion.
👉 To read on the same subject – The OpenSea platform now processes 98% of the total volume of non-fungible tokens (NFTs)
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About the author: Florent David
Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.