Over 300 NFTs From Three Arrows Capital’s NFT Fund Moved by Liquidator to New Wallet

Hundreds of non-fungible tokens (NFTs) collected by Starry Night Capital person been transferred to a caller wallet. The NFT money of the insolvent crypto hedge money Three Arrows Capital (3AC) bought the tokens successful 2021. 3AC filed for bankruptcy earlier this year, aft taking a deed from the illness of the Terra ecosystem and the ensuing crypto winter. Now its liquidator, Teneo, says the tokens are being transferred into its hands.

Starry Night Capital Fund’s Collection of NFTs Being Moved to Gnosis Safe Address

NFTs from a premium postulation belonging to Starry Night Capital, featuring Cryptopunks among different invaluable collectibles, are moving to a caller wallet, the crypto analytics steadfast Nansen revealed connected Twitter. More than 300 tokens of a full exceeding 400 NFTs person been transferred to a Gnosis Safe account, a multi-signature Ethereum wallet.

The Starry Night Capital NFT money was established past twelvemonth by crypto hedge money Three Arrows Capital and an NFT collector going by the pseudonym Vincent Van Dough. Their archetypal volition was to rise immoderate $100 cardinal successful bid to get tokens from fashionable NFT collections and salient artists.

NFTs antecedently collected by Starry Night Capital are moving to a Gnosis Safe address.

These NFTs include:
– Pepe the Frog NFT Genesis, sold for 1,000 ETH (~$3.5M) connected Oct 5, 2021
– Fidenza #718, sold for 240 ETH (~$1.1M) connected Nov 13, 2021

Some different notable NFTs below👇 pic.twitter.com/8PU13CqMnn

— Nansen 🧭 (@nansen_ai) October 4, 2022

In a statement quoted by Bloomberg and crypto media, Teneo, 3AC’s liquidator, said that acknowledgment to Vincent Van Dough’s cooperation, “all Starry Night Capital NFTs, of which VVD is aware, person been accounted for and are successful our possession oregon are being transferred to us.” The steadfast indicated it wants to merchantability them, stating it volition apt beryllium moving with Vincent Van Dough to oversee their disposal.

The NFTs being transferred present see Pepe the Frog NFT Genesis, sold for 1,000 ETH (approx. $3.5 million) connected Oct. 5, 2021 and Fidenza #718, sold for 240 ETH (around $1.1 million) connected Nov. 13, 2021, respective Cryptoart NFTs by the creator XCOPY, sold for betwixt $1.4 and $2.3 cardinal successful December, and AI generated Nude Portrait #7 Frame #184 by Robbie Barrat, sold for $1.1 cardinal successful ether.

Among them are besides a fewer Cryptoadz — Cryptoadz #5634 (135 ETH) and Cryptoadz #54 (25 ETH) sold successful October — Meridian #684 and Meridian #171 (priced astatine 90 and 80 ETH respectively), and aggregate Pudgy Penguins, including Pudgy Penguin #6869, which was sold for 16.9 ETH connected Jan. 8, 2022, Nansen elaborate successful its tweets connected Tuesday.

According to the company, their existent estimated portfolio worth is 625 ETH (less than $840,000 astatine the clip of writing, a overmuch little valuation than their merchantability value), based connected the 24-hour median terms oregon seven-day terms complaint wherever nary income were made successful the past 24 hours. The analytics steadfast pointed retired that 89% of the NFTs person debased liquidity, with little than 35 income successful the past 7 days.

Three Arrows Capital recovered itself successful occupation aft the collapse of Terra UST and LUNA. The money had invested millions of dollars into the Terra ecosystem and its founders, Su Zhu and Kyle Davies, blamed the vulnerability for the crisis.

“What we failed to recognize was that Luna was susceptible of falling to effectual zero successful a substance of days and that this would catalyze a recognition compression crossed the manufacture that would enactment important unit connected each of our illiquid positions,” Zhu said successful interrogation with Bloomberg successful July, portion besides admitting the squad whitethorn person been excessively fond of Terra’s co-founder Do Kwon.

3AC filed for bankruptcy successful June. It was facing liquidation from a tribunal bid issued successful the British Virgin Islands and an probe by fiscal and judicial authorities successful Singapore. Teneo was appointed by a British Virgin Islands tribunal to liquidate Three Arrows Capital and the Singapore High Court granted its petition to person greater penetration into 3AC’s assets.

Do you expect the NFTs from Starry Night Capital’s postulation to beryllium sold successful the adjacent future? Share your thoughts connected the taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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