Hundreds of non-fungible tokens (NFTs) collected by Starry Night Capital have been transferred to a new wallet. The NFT of the insolvent crypto hedge fund Three Arrows Capital (3AC) bought the tokens in 2021. 3AC filed for bankruptcy earlier this year, after being hit by the collapse of the Earth ecosystem and the crypto winter that it followed. Now his liquidator, Teneo, says the tokens are passing into his hands.
The Starry Night Capital Fund’s NFT collection has been transferred to the secure address of Gnosis
NFTs from a premium collection owned by Starry Night Capital, including Cryptopunks among other valuable collectibles, are moving to a new wallet, cryptanalysis firm Nansen revealed on Twitter. More than 300 tokens out of a total of over 400 NFTs were transferred to a Gnosis Safe account, a multi-signature Ethereum wallet.
The Starry Night Capital NFT Fund was founded last year by cryptocurrency hedge fund Three Arrows Capital and an NFT collector under the pen name of Vincent Van Dough. Their original intention was to raise around $ 100 million to acquire tokens from popular NFT collections and top artists.
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NFTs previously collected by Starry Night Capital are transferred to a secure address in Gnosis.
These NFTs include:
– Pepe the Frog NFT Genesis, sold for 1,000 ETH (~ $ 3.5 million) on 5 October 2021
– Fidenza # 718, sold for 240 ETH (~ $ 1.1M) on November 13, 2021
Some other noteworthy NFTs below👇 pic.twitter.com/8PU13CqMnn
– Nansen 🧭 (@nansen_ai) October 4, 2022
In a statement cited by Bloomberg and Crypto Media, Teneo, the liquidator of 3AC, said that through the collaboration of Vincent Van Dough, “all NFT Starry Night Capital that VVD is aware of have been accounted for and are in our possession or I’m in the process of transfer “. our.” The company has indicated that it is interested in selling them, saying it will likely work with Vincent Van Dough to oversee their disposal.
Transferred NFTs now include Pepe the Frog NFT Genesis, sold for 1,000 ETH (approximately $ 3.5 million) on October 5, 2021, and Fidenza # 718, sold for 240 ETH (approximately $ 1.1 million) on November 13, 2021, several Cryptoart NFT by artist XCOPY, sold between $ 1.4 million and $ 2.3 million in December, and Robbie Barrat’s AI-generated Nude Portrait # 7 Frame # 184 sold for $ 1.1 million in ether.
Among these are also some Cryptoadz – Cryptoadz # 5634 (135 ETH) and Cryptoadz # 54 (25 ETH) sold in October – Meridian # 684 and Meridian # 171 (priced at 90 and 80 ETH respectively) and several Pudgy Penguins, including including Pudgy Penguin # 6869, which sold for 16.9 ETH on January 8, 2022, detailed Nansen in his tweets on Tuesday.
According to the company, their portfolio’s present value is estimated at 625 ETH (less than $ 840,000 at the time of writing, a valuation well below their selling value), based on the price or 24-hour median rate of prices over seven days without sale. have been performed in the last 24 hours. The analyst firm pointed out that 89% of NFTs have low liquidity, with fewer than 35 sales in the past seven days.
Three Arrows Capital got into trouble after the collapse of Terra UST and LUNA. The fund had invested millions of dollars in the Earth ecosystem and its founders, Su Zhu and Kyle Davies, blamed the exposure for the crisis.
“What we didn’t realize was that Luna was able to go down to actual zero in a few days and that would catalyze an industry credit crunch that would put significant pressure on all of our illiquid positions,” Zhu said in a statement. interview with Bloomberg in July, while admitting that the team may have liked Terra co-founder Do Kwon too much.
3AC filed for bankruptcy in June. He was threatened with liquidation following a court ruling in the British Virgin Islands and an investigation by the financial and judicial authorities in Singapore. Teneo was commissioned by a British Virgin Islands court to liquidate Three Arrows Capital and the Singapore High Court granted his request for greater knowledge of 3AC’s business.
Do you expect the NFTs from the Starry Night Capital collection to be sold out in the near future? Share your thoughts on the subject in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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