Hundreds of NFTs Moved From Three Arrows Fund, Tracker Says

October 7, 2022

By Sharan Kaur Phillora

It’s the first time the NFTs have been transferred since the main crypto wallet belonging to Starry Night Capital shifted almost all of the digital tokens to a new address about four months ago. 

Here’s what we know: 

According to a tweet from crypto analytics firm Nansen, NFTs belonging to Starry Night Capital—a fund established by Three Arrows Capital and pseudonymous collector Vincent Van Dough in 2021—are being moved into a new wallet—specifically a Gnosis Safe account.

A Gnosis Safe is an extra-secure Ethereum wallet that requires multiple signatures to approve transactions. All told, 383 Ethereum NFTs have been moved into the new wallet as of this writing, while the previous wallet still contains 80 NFTs. Most of the NFTs were moved last night.

Some notable NFTs collected by Starry Night Capital include artist Matt Furie’s Pepe the Frog Genesis NFT for $3.5 million worth of ETH and a trio of NFTs from pseudonymous artist XCOPY that ranged in price from $1.4 million to $2.3 million worth of ETH. Starry Night also holds multiple CryptoPunks, Rare Pepes, and other notable collectibles.

Su Zhu and Kyle Davies, the co-founders of Three Arrows, started Starry Night Capital during the height of the nonfungible token craze last year. They’ve since been sparring with the court-appointed liquidators charged in June with unwinding their assets. 

Three Arrows, which operated from Singapore until earlier this year, collapsed after the implosion of the Terra algorithmic stablecoin in May sent cryptocurrencies tumbling.

Zhu and Davies also didn’t immediately respond to a request for comment Tuesday.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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