• ‘Vincent Van Dough’ announces NFT fund alongside Three Arrows Capital founders, with a $100 million target

  • Vincent Van Dough, a well-known NFT trader, has started a new fund to invest in non-fungible tokens (NFTs).

    The Starry Night Capital fund was established in conjunction with Three Arrows Capital founders Su Zhu and Kyle Davies. Dough, who joined Twitter last month and has over 25,000 followers, tweeted on Monday.

    Dough gained to prominence by actively purchasing NFTs before they became popular, particularly Art Blocks pieces. According to their OpenSea page, they own almost 900 Art Blocks NFTs, among other items.

    “I’m a lifelong member of the cryptocurrency community, an early NFT adopter, and an arts lover,” Dough said to ULTCOIN365.

    They stated that Dough intends to raise $100 million for the NFT firm Starry Night Capital. “Our theory is simple: we believe that owning the top pieces from the most coveted sets is the greatest way to acquire exposure to the cultural paradigm shift being ushered in by NFTs,” they added.

    Starry Night Capital intends to open a physical gallery in a “big city” before the end of this year as part of its goals. It also intends to develop an NFT education portal and investigate strategies to increase exposure for emerging artists.

    According to Dough, “the NFT space is not a zero-sum game; it is powered by powerful flywheel effects and performs best when the pie is growing for all.”

    Dough’s collaboration with Three Arrows Capital comes at a time when the venture capital firm is also active in the NFT area. Earlier this week, the firm paid $5.8 million for an Art Blocks NFT, the highest sum ever paid for an Art Blocks sculpture.

    Notably, a Twitter user @ol smoothie noticed earlier today a pattern in which Dough buys an NFT and Three Arrows Capital follows suit a few days later.

    Three Arrows Capital is well-known for assisting successful traders in their endeavors. For example, following Cheong’s Synthetix (SNX) token investment call last year, the firm assisted Arthur Cheong in establishing DeFinance Capital. According to its website, DeFiance Capital “operates as a sub-fund and share class of Three Arrows Capital.”

    In terms of NFTs, activity in the ecosystem has increased in recent weeks.

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