To underscore the data point, former Twitter (TWTR) CEO Jack Dorsey’s $2.9 million first tweet is now worth just $280.Ī date has not been set by the court for a bankruptcy hearing for Three Arrows, according to court documents retrieved by CoinDesk. The average value of an NFT is down 68% in the last three months to $628, according to NonFungible’s data tracker. The secondary market is down to around 134,000 weekly sales while the primary market has 60,000. Fast forward to now, and the primary and secondary markets have flipped in prominence. 12, the NFT market had peaked with 746,000 weekly primary NFT sales, according to NonFungible, and approximately 506,000 secondary sales.īut those were bull market times. The DappRadar valuation of the Starry Night portfolio at $4.2 million notwithstanding, even that diminished level might not be reliable – with volatile cryptocurrency markets still recovering from their recent crash.ĭata from NonFungible shows that in the last three months, the secondary sales market for NFTs has been obliterated compared with when Starry Night was amassing its collection last year.
Sandbox LAND is currently undergoing a migration to a new contract.In order to benefit from all future. The total sales volume for The Sandbox is 169K ETH - 286,601,875.31 with 21441 owners. The current floor price for a The Sandbox NFT is 1.93 ETH - 3,270.02. Pressure on the NFT marketĪs bankruptcy proceedings begin in BVI and Starry Night’s value is assessed, the question is for how much these NFTs can be sold. The Sandbox is a 142,139 piece NFT collection stored on the Ethereum blockchain. The company’s stock, listed on the Aquis exchange, has declined by nearly 80% on the year. A spokesperson for KR1 declined to comment further. In a recent earnings statement, KR1 said it had impaired the value of these Starry Night Shares by 100%, writing off its value entirely from its books. At one time, Waters later tweeted, it amounted for 10% of NFT marketplace SuperRare’s volume. CoinMetrics researcher Kyle Waters said the fund spent $21 million amassing this portfolio, with numerous blockbuster purchases sometimes in the millions of dollars. While Three Arrows made an effort to obscure its relationship with its over-the counter trading desk TPS Capital via a complex paper trail, the relationship between Three Arrows and Starry Night has never been much of a secret.Īccording to estimates prepared by DappRadar using on-chain data, Starry Night’s wallet has an estimated net worth of $4.2 million.
The Sandbox metaverse comprises a map made up of 166,464 LANDS. The Sandbox is a community-driven platform where creators can monetize voxel assets and gaming experiences on the blockchain. There are 67,620 The Sandbox ASSETS owners, owning a total supply of 4,689 tokens. At the height of last summer’s non-fungible token (NFT) mania, Three Arrows Capital – then a behemoth managing tens of billions of dollars – partnered with pseudonymous non-fungible token collector Vincent Van Dough to launch Starry Night Capital, an NFT fund that aimed to raise $100 million.īut in the crypto-markets wreckage of 2022 that has Three Arrows looking down the barrel of a court-ordered liquidation, the Starry Night fund is worth a fraction of what it aimed for and its only institutional investor has declared a total write-off of its investment. The average price of one The Sandbox ASSETS NFT was 87.
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