Famous NFT Collection Lost Millions Of Dollars In Value! Moved to a Different Wallet!

Bankrupt crypto hedge fund Three Arrows Capital once a $100 million NFT He was targeting the collection, but is now worth less than $1 million and has been moved to a different wallet.

Three Arrows Capital-backed ‘Starry Night’ NFT Collection Moved to Gnosis Wallet

A fund backed by bankrupt crypto hedge fund Three Arrows Capital Starry Night Capitalnon-exchangeable tokens (NFTs) smart contract wallet Gnosis Safecarried it to.

Starry Night was founded by the Singapore-based firm in August 2021 to act as an investment arm for digital collectibles following the NFT boom.

According to the defunct Twitter account, the fund is “the best in the world”. CryptoArt well-known NFT collector to put together his Vincent Van Dough had partnered with.

News sources reported that Three Arrows’ NFT wallets initially bought assets from popular collectibles like CryptoPunks and invested in multi-million dollar artworks by artists like Dmitri Cherniak with the goal of raising $100 million.

The firm also planned to launch an NFT education portal and physical gallery.

According to researcher Kyle Waters, Starry Night Capital moved its entire collection of 70 artifacts to the NFT marketplace SuperRare prior to its liquidation decision in June 2022. At the time, it was estimated that more than $21 million was spent creating the collection.

It is very difficult to value all NFTs in the Starry Night vault, as different valuation tools use different metrics in their estimates. However, according to estimates, the NFT portfolio is approximately 625 ETH i.e. it is worth about 846,431 dollars.

In addition, it is stated that about 89% of NFTs in the collection have low liquidity, which is measured as less than 35 sales in the last 7 days.

*Not investment advice.

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