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WebsCrypto—News—NFT News—NFT Fund Starry Night Wallet Net Assets Shrink To $ 4.2 Million
NFT News

NFT Fund Starry Night Wallet Net Assets Shrink To $ 4.2 Million

By WebsCryptoJuly 9, 2022
NFT Fund Starry Night Wallet Net Assets Shrink To $ 4.2 Million
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Three Arrows Capital has partnered with anonymous NFT collector Vincent Van Dough to launch Starry Night Capital, an NFT fund that aims to raise $100 million.

But in the cryptocurrency market of 2022, where Three Arrows Capital triggers the risk of a court-ordered liquidation, the value of the Starry Night fund is only a fraction of its target, and its sole institutional investor has announced a complete write-off of its investment.

Starry Night’s wallet has an estimated net worth of $4.2 million, according to estimates compiled by DappRadar using on-chain data.

Kyle Waters, a researcher at CoinMetrics, said the fund spent $21 million to amass the portfolio, with many of its heavyweight investments sometimes reaching millions. Now that the fund has moved from its old address on SuperRare to a new wallet, there is speculation that a big sale may be underway.

Related:  NFT Trading Takes a Hit After Silicon Valley Bank Collapse
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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