Three Arrows Capital founders Kyle Davies and Su Zhu are partnering with a rising digital art trader in an effort to launch a new fund dedicated to non-fungible tokens (NFTs).
In a new tweetstorm, the NFT trader, known in the industry as VincentVanDough, says he’s working with the hedge fund executives to roll out Starry Night Capital, a fund focused on collecting premium NFTs.
[adinserter block="1"]“Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.”
VincentVanDough adds that Starry Night Capital will aspire to do more for the growth of the NFT space.
“We are cognizant of the concerns many have about funds entering this space and we will seek to always do right by the community. Before year’s end, we aim to launch an NFT education portal, explore ways to bring more exposure to up-and-coming artists, launch a physical gallery in a major city, ensure works in our collection remain open to the public via virtual galleries and experiment with various community-building initiatives.
We strive to be good stewards of the space at large and use our influence to uplift and empower others.
The NFT space is not a zero-sum game. It is driven by strong flywheel effects and functions best when the pie is growing for all.”
The launch of the NFT fund comes at a time when the digital collectibles market is booming. In the first six months of 2021, the entire NFT market had recorded $2.5 billion in sales. August also saw the NFT project CryptoPunks record the highest monthly sales ever.
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