The long descent into hell of Three Arrows Capital (3AC) seems near the end. Shortly after the delivery of his judicial liquidationthe infamous 3AC investment fund is forced to part with its assets. Among them are numerous collections of non-fungible tokens (NFTs). Some of which have already migrated to a third-party wallet.
Three Arrows Capital was one of the most well-known and popular cryptocurrency investment funds in the market. Unfortunately, it went bankrupt several months ago. In particular following a substantial investment in the Terra ecosystem, which, as you can imagine, cost him heavy losses. The company will therefore never have succeeded in recovering from it.
Anyway, it has now been more than a month and a half since the liquidation order was issued by the Singapore High Court. And since then, 3AC is gradually separating from its assets. The fund held many collections of non-fungible tokens. Collections held through the hedge fund Starry Night Capital, also bankrupt. The latter, created by 3AC in 2021 with a collector calling himself Vincent Van Dough, does indeed have a large collection. It must be said that he had acquired hundreds of them, without really counting his expenses. And despite his finances, he still planned to raise $100 million to invest in “works of art and collectibles NFTs.” »
3AC – NFT collections already in motion
Starry Night Capital is currently in the process of moving the company’s (large) collection of NFTs. Some arrived in the wallet of a third party overnight from Tuesday to Wednesday.
And according to a twitter statement from the company Nansencollections are being migrated to a wallet Gnosis. This is a wallet ” safe ” ultra secure in that it requires multiple signatures to approve transactions. Still according to Nansen, this same wallet would have already received 383 NFT’s Ethereum from Starry Night Capital. And there would still be 80 of the same type left in the old one.
3AC – What is the content of the NFT collection?
From what we know, it has several more or less known NFTs. Firstly, the fund created under the impetus of Three Arrows Capital had decided to acquire, for its first purchase, a Art Block Ringers Artist’s NFT Chernyak for a total value of $5.66 million in ETH.
Then the fund bought the NFT Pepe the Frog Genesis of the article Matt Furythis time for the modest sum of 3.5 million ETH, as well as a trio of NFTs by the artist XCOPY for an estimated value between 1.4 million to 2.3 million ETH. In addition to these first purchases, the fund also holds several CryptoPunks and Rare Pepes. Suffice to say that there is something for all tastes and for all prices. Something to delight the new owners!
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Three Arrows Capital is parting ways with its NFT collections
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