Three Arrows Capital Behind Moving Over 300 NFTs To Gnosis Safe Addresses

Starry Night Capital, an NFT fund backed by Three Arrows Capital, is moving over 300 NFTs it previously purchased to the Gnosis Safe address. Their total value is currently around 625 ETH, or about $840,000.

According to Bloomberg, more than 300 NFTs were moved out of a crypto address associated with Starry Night Capital, a NFT-focused fund launched by the co-founders of the now-bankrupt crypto hedge fund Three Arrows Capital.

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

Blockchain data firm Nansen tweeted on Tuesday that some of the NFTs that moved include Rare Pepe, Fidenza and other NFTs were previously purchased at a high price by Starry Night Capital, their total value is now around 625 ETH, or about 840,000 USD. 89% of these NFTs are illiquid, with less than 35 transactions in the last 7 days.

Three Arrows Capital filed for Chapter 15 bankruptcy on 1st July 2022 in New York. The purpose of a chapter 15 bankruptcy is to prevent creditors from seizing a company’s assets located in the US. Meanwhile, liquidation proceedings will continue in the British Virgin Islands where Three Arrows is based.

The following NFTs are owned by Three Arrows Capital and are valued at around $7.36 million, according to the data published by NFTGators.

• 1 Bored Ape Yacht Club worth $61k
• 2 Mutant Ape Yacht Club worth an estimated $122.6k
• 11 Crypto Punks NFTs worth $3 million
• 330 Art Blocks Curated NFTs worth a total of $2.483 million
• 8 PEGZ NFTs worth $613k
• 4 DeafbeefV2 worth $564k
• 3 Autoglyphs worth $304k
• 7 Art Blocks NFTs worth $125k
• 7 Chromie Squiggle NFTs worth $73.78k

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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