1/ Over the last 24h Three Arrows Capital-backed NFT fund has moved its entire collection on SuperRare totaling 70 works which it has spent >$21M on since last August.
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2/ Some background: 3AC launched Starry Night Capital last summer with the pseudonymous NFT collector Vincent Van Dough with the goal of raising $100M and “assembling the world’s finest collection of NFTs"
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3/ The fund has accumulated a large collection of crypto art with some well-known works such as the "Lost Robbie" below which sold for ~$1M last year.
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AI Generated Nude Portrait #7 Frame #184
Artwork by @videodrome
Sold to @StarryNight_Cap for 300.0 ETH ($1,031,058.00)
SuperRare.co/artwork/ai-gen
$RARE #cryptoart #NFT
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4/ All of the SR works were sent to a single address along with pieces from Art Blocks, KnownOrigin, Foundation, and other crypto art projects.
There appears to be some sort of consolidation going on.
etherscan.io/address/0x54a9
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5/ 3AC in general went on an NFT buying spree last summer, picking up many works from Art Blocks curated collections such as Fidenza and Ringers.
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Full update on Three Arrows Capital NFT buying spree:
Over the last couple days they've spent thousands of ETH on predominantly @artblocks_io pieces and Cryptopunks. The buying has happened from two walletss and the NFTs are being consolidated and kept in a 3rd wallet.
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6/ The new wallet seems to have some linkage to other 3AC wallets but it's unclear so far what's going on (at the worst case, gearing up for some sort of liquidation/OTC block trade of NFTs?)
It's also unclear if NFT sales would even move the needle very much v. other positions.
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how can you see the collection says zero pieces in the collection ??
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