Three Arrows Capital and Vincent Van Ruau jointly launched the NFT fund "Starry Night Capital"

This article comes fromDecrypt, Original Author: Andrew Hayward

Odaily Translator | Nian Yin Si Tang

Summary:

This article comes from

, Original Author: Andrew Hayward

Odaily Translator | Nian Yin Si Tangsecondary titleSummary:

- Cryptocurrency hedge fund Three Arrows Capital (Three Arrows Capital) has jointly launched a fund focused on buying valuable NFT collectibles.- Last Friday, it acquired an Art Blocks NFT for $5.66 million, setting a new record for the sale price of a single NFT for the project.。

Since late July,The NFT market ushered in a new round of upsurge, Art Blocks, and CryptoPunks, among top collectibles, are seeing rising prices and trading volumes surging across the board, suggesting investors see a profit opportunity in crypto collectibles. Singapore-based Three Arrows Capital clearly believes this and has announced plans to invest heavily in top NFTs.

The cryptocurrency hedge fund today announced the launch of Starry Night Capital, a new fund focused on “bringing together the world’s best collection of NFTs,” according to its Twitter profile. To do this, the company teamed up with NFT collector Vincent Van Ruau (pseudonym), who has quite a following on Twitter and has a large

Personal NFT Portfolio"Our thinking is simple: we believe that the best way to gain exposure to the cultural paradigm shift that NFTs bring is to own the top entry in the most popular series." Vincent Van Ruauwrote on twitter today. Three Arrows Capital co-founder Kyle Davies confirmed that Starry Night Capital plans to raise $100 million for the new fund.。

“The NFT space is not a zero-sum game, it’s driven by a powerful flywheel effect, and the NFT space will grow best when the pie is getting bigger,” Van Dough said.

NFTs are like ownership contracts for digital items, including images, video clips, and interactive video games, among others. Earlier this year, sentiment surged in the market, withGenerated $2.5 billion worth of transactions. A period of decline followed. However, the recent recovery has brought higher turnover: NFT marketplace OpenSea month-to-date

Starry Night Capital's first notable acquisition was an Art Blocks NFT from Dmitri Cherniak's Ringers collection - Ringers #879. Ringers #879 sold for 1,800 ETH (approximately $5.6 million) on August 27 Transaction, setting a record for the highest price of Art Blocks NFT.ReportAccording to Van Dough, Starry Night Capital plans to launch NFT-centric educational content by the end of the year, highlighting up-and-coming artists, presenting their work for access through a virtual gallery, and launching a physical gallery in a "major city." . It is worth mentioning that Zhu Su, CEO and CIO of Three Arrows Capital,