Three Arrows Capital launches $100M fund to create the "world's finest collection of NFTs

Creating the most valuable collection of NFTs

Investment fund Three Arrows Capital is launching a fund focused on the acquisition of high-value non-fungible tokens (NFTs). The fund named “Starry Night Capital” was co-founded by renowned NFT collector Vincent Van Dough, among others.

Van Dough announced the creation of the fund by explaining the investment thesis:

“Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift driven 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 major acquisition is an NFT from Dmitri Cherniak’s Ringers Collection Art Blocks project. The artwork, which was generated on Ethereum (ETH) with an algorithm, sold for 1,800 ETH or about $5.66 million.

Other activities of Three Arrows Capital

Three Arrows Capital’s main business is investing in the crypto-blockchain industry. According to the website, the fund holds crypto-currencies 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 the decentralized exchange (DEX) dYdX.

The investment fund also reported a significant stake in the Grayscale Bitcoin Trust in January, holding nearly 38.9 million shares, or about 6.1% of the total shares issued at the time of disclosure. This represents a position of about 36,969 BTC or nearly $1.7 billion.

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Related news – OpenSea platform now handles 98% of total non-fungible token (NFT) volume

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About the author : Florent David

Three Arrows Capital launches $100M fund to create the "world's finest collection of NFTs

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Engaged in the crypto ecosystem since 2017. I amis particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.