Executives from Singapore-based fund manager Three Arrows Capital (3AC) have launched a fund dedicated to collecting premium non-fungible tokens (NFTs).

Three Arrows Capital’s 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 gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.”

Besides collecting premium NFTs, Van Dough listed other goals that the fund will aspire to.  For instance, it hopes to launch a physical gallery in a major city by the end of the year. This will also help in ensuring works in its collection remain open to the public.

Additionally, Starry Night seeks to foster the development of the NFT space, through launching an NFT education portal, exploring ways to bring more exposure to up and coming artists, as well as experiment with various community building initiatives. 

Essentially, Starry Night Fund hopes to become something of an incubation space for the NFT community. “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,” Van Dough concluded.

Based in Singapore, 3AC is a digital asset-focussed fund manager that was founded in 2012. The company has several investments in most leading layer-one blockchains including Ethereum, Avalanche, and Polkadot. Additionally, the firm has also developed an expansive DeFi portfolio including blueships Aave, Synthetix, and Balancer. 

Earlier this year, it became the second company besides MicroStrategy to invest over $1 billion in bitcoin. However, unlike MicroStrategy it had done so through indirect exposure to the cryptocurrency. In January, Three Arrows owned 38,888,888 GBTC, which was equivalent to 36,969 bitcoins.

The post Three Arrows Capital Executives Launching Starry Night Capital NFT Fund appeared first on BeInCrypto.

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