More than 300 NFTs were moved out of a coin address associated with Starry Night Capital, a NFT-focused fund founded by the co-founders of the now-bankrupt criptocurrency hedge fund Three Arrows Capital.
It is the first time that the NFTs have been transferred since Starry Night Capital shifted almost all of their digital tokens to a new address about four months ago. Some of the NFTs that moved include Pepe the Frog NFT Genesis, which was sold for 1,000 Ether, or about $3.5 million, on October 5, 2021, according to data firm Nansen. The price of ether has dropped about 62%.
Su Zhu and Kyle Davies, co-founders of Three Arrows, started Starry Night Capital at the height of the non-fungible token craze last year. They have been sparring with the court-appointed liquidators charged in June with unwinding their assets. Some estimates had put the value of the collection at around $35 million.
Teneo was appointed by a British Virgin Islands court to liquidate Three Arrows. A petition from Teneo was granted by the Singapore High Court to have a better insight into Three Arrows remaining assets, according to Bloomberg.
All Starry Night Capital NFTs that VincentVanDough is aware of have been accounted for and are in our possession or are being transferred to us, thanks to the cooperation of Starry Night Capital co-investor VincentVanDough. Teneo will probably be working with VincentVanDough to oversee the disposal of the NFTs, with more details to be shared later.
Three Arrows, which operated from Singapore until later this year, collapsed after the implosion of the Terra algorithmic stable coin in May, sending cryptocurrencies tumbling.
Zhu and Davies didn't respond immediately to a request for comment Tuesday.
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