Definitions

What are NFTs?

A non-fungible token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. Currently the two most popular blockchains for NFTs are Ethereum and Solana.

What is 3AC?

Three Arrows Capital was a Singapore-based cryptocurrency hedge fund that was ordered to liquidate on 27 June 2022 by a court in the British Virgin Islands. It was founded in 2012 by Kyle Davies and Su Zhu.

What is Starry Night Capital?

Starry Night Capital is an NFT investment fund backed by Three Arrows Capital. Take a look at the NFTs in Starry Night Capital here:

Introduction

The collapse and bankruptcy filing of Three Arrows Capital has led to speculation about the fate of their Starry Night Capital.

Methodology

In this dashboard, we will Estimate the current and peak value of 3AC's NFT collection holdings. In addition, we will investigate the Liquidity and sales activity of NFTs in the 3AC's NFT collection.

Sections

1. 3AC's NFT collections’ Sales activity
2. Current and peak value of 3AC's NFT collection
3. Sales and buyers of 3AC's NFT collection
4. Starry Night Capital collection

Collections in Starry Night Capital

3AC's NFT collections’ Sales activity

• The graphs in the section below will display the sales activity of the collection in the ‘nft_project’ box the available projects to look at are in the Collections in Starry Night Capital table to the left.
• To change the graphs enter one of the address or project names or address from the list to the left.
• Some of the collections will take over a minute to load the graphs for.

Observations

• Most of the large collections held by Starry Night Capital peaked in price in October 2021 and were at their lowest price in late summer 2022.
• Most collections held by Starry Night Capital have had decreasing volume throughout 2022.
• Many of the collections held by Starry Night Capital have had less than 10K buyers since the start of 2021.

Current and peak value of 3AC's NFT collection

Observations

• At the peak value of the Starry Night Capital NFT collection, it was worth nearly $35 Million. Now the collection is worth about $3 Million. This is 85.7% down.
• When the portfolio was at its peak It’s crypto punks were worth over $20 million currently they are worth $1.4 million.
• Since the Peak of the portfolio value, Autoglyphs and Artblocks have grown in their proportional value of the portfolio.
• The price of this portfolio has been increasing since August this year.

Sales and buyers of 3AC's NFT collection

Observations

• Other than the Opensea and Artblock collections all the collections that are in Starry Night Capital’s portfolio have less than 700 sales from less than 3000 buyers. This shows that these markets are currently ver illiquid.
• Over 10 collections held by Starry Night Capital have had less than 20 buyers in the past month.

Starry Night Capital collection

Observations

• 27% of the NFTs in the Starry Night Capital Portfolio are art block NTFs.

• About 50% of the NFTs in the Starry Night Capital Portfolio have 5 or fewer other NFTs in the same collection in the portfolio.

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Conclusion

• What is the current value of 3AC's NFT collection holdings in USD? how price has changed in USD terms over the last six months as the crypto market has collapsed, and how this compares to the collection's peak?
  • At the peak value of the Starry Night Capital NFT collection, it was worth nearly $35 Million. Now the collection is worth about $3 Million. This is 85.7% down.
• How liquid are the markets for 3AC's NFTs, and how may their sale influence the current market?
  • Generally, the NFTs held by Starry Night Capital are illiquid other than the Artblock NFTs.
  • Other than the Opensea and Artblock collections all the collections that are in Starry Night Capital’s portfolio have less than 700 sales from less than 3000 buyers. This shows that these markets are currently ver illiquid.
  • Over 10 collections held by Starry Night Capital have had less than 20 buyers in the past month.
• Are there any trends suggesting holding may be a better option for the long-term value of specific NFTs?

  • Since July 2022 the price of both cryptopunks and autoglyphs have gone up by over 50% since July 2022.

  • The price of this portfolio has been increasing since August this year.

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