Executives at Singapore-based fund manager Three Arrows Capital (3AC) have launched a fund dedicated to raising non-fungible premium tokens (NFTs).
Three Arrows Capital CEO Su Zhu and co-founder Kyle Davies launched the fund, Starry Night Capital, with NFT collector Vincent Van Dough. According to Van Dough, “the best way to expose yourself to the cultural paradigm shift introduced by NFTs is to own the best pieces of the most desired ensembles.”
In addition to collecting premium NFTs, Van Dough listed other goals that the fund will aspire to. For example, you hope to launch a physical gallery in a major city by the end of the year. This will also help ensure that the works in your collection remain open to the public.
Additionally, Starry Night seeks to promote the development of the NFT space, through the launch of an educational NFT portal, exploring ways to bring greater visibility to emerging artists, as well as experimenting with various community building initiatives.
In essence, Starry Night Fund hopes to become a kind of incubation space for the NFT community. ” NFT space is not a zero-sum game, it is driven by strong steering wheel effects and works best when the cake grows for everyone,” concluded Van Dough.
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Based in Singapore, 3AC is a digital asset focused fund manager founded in 2012. company has multiple investments in most of the top tier blockchains including Ethereum, Avalanche, and Polkadot. Additionally, the company has also developed an extensive DeFi portfolio including Aave, Synthetix and Balancer blueships.
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Earlier this year, it became the second company, besides MicroStrategy, to invest more than $ 1 billion in bitcoins. However, unlike MicroStrategy, it did so through indirect exposure to cryptocurrency. As of January, Three Arrows owned 38,888,888 GBTC, equivalent to 36,969 bitcoins.
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