Autor Cointelegraph By Ana Paula Pereira

Three Arrows Capital's NFTs collection to be liquidated

Three Arrows Capital's NFTs collection to be liquidated

Uverejnil používateľ | okt 5, 2022 |

Teneo, the liquidation firm in charge of the Three Arrows Capital (3AC) bankruptcy process, confirmed in a statement to Cointelegraph on Oct. 5 that it has custody of the NFTs moved from the addresses related to Starry Night Capital, a fund launched by the co-founders of the now-bankrupt hedge fund. According to the firm, the collection move was part of the liquidators’ duty of identifying assets and maximizing recoveries on behalf of all creditors. A report from Bloomberg estimated that the Starry Night Capital collection’s total value sits at around $35 million. It represents only a tiny fraction of the 3AC’s debt of $2.8 billion to its creditors.The firm’s statement said:”We would like to make clear that VVD [pseudonymous NFT collector Vincent Van Dough] has cooperated with the JLs [Joint Liquidators] in an effort to protect the value of these assets for the benefit of all relevant stakeholders and has sought to ensure that no Starry Night Portfolio assets would be disposed of improperly, or without sanction of the BVI Court if required.”VVD also offered to assist with the eventual sale of 3AC NFTs, and will likely oversee the assets’ disposal with the firm, Teneo said.In 2021, 3AC co-founders Su Zhu, Kyle Davies, and pseudonymous NFT collector Vincent Van Dough (DVV) formed Starry Night Capital. A nonfungible token (NFT)-focused fund that, initially, intended to invest exclusively in “the most desired” NFTs. In August, Teneo was pointed out as the liquidation firm in the 3AC case. The Singapore-based hedge fund went bankrupt following the collapse of the Terra ecosystem earlier this year. The company, which once had over $10 billion in assets under management, eventually filed for a Chapter 15 bankruptcy on July 1 in a New York court.

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Skyweaver's parent company secures $40M in Series A funding

Skyweaver's parent company secures $40M in Series A funding

Uverejnil používateľ | okt 5, 2022 |

Horizon Blockchain Games, the developer behind the Skyweaver game, has raised $40 million in Series A funding, the company disclosed on Oct. 4. The round was led by Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox’s co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen, among other investors. With the funds, Horizon plans to invest in Web3 products and scale its operations. Specifically, the company wants to grow its developer stack and smart wallet Sequence, expand the content and reach of the nonfungible token (NFT) turn-based card game Skyweaver, and introduce the semi-fungible token (SFT) marketplace Niftyswap.Peter Kieltyka, Horizon co-founder and CEO, said the Series A allows the company to “grow the Sequence ecosystem by attracting more builders to our platform via marketing, community, and partnership initiatives.” Based on the Polygon network, Skyweaver enables players to battle each other and earn tokenized cards to trade via its marketplace. The game was launched in February after months of testing for a limited number of players. According to the company, over three million games were played in the private beta and 345,000 people signed up for the waitlist before it went live. The Niftyswap marketplace is expected to make trading SFTs easier by offering liquidity on-chain. SFT is a token that can be both fungible and nonfungible. Fungible, until they get redeemed, when they lose their value and become nonfungible. It was enabled by the ERC-1155 token standard, which was co-created by Horizon’s team. Related: Solana tech developer Coral raises $20M, plans to launch ‘xNFT’ protocolThe number of users interacting with blockchain gaming decentralized applications (DApps) increased in September, according to data from DappRadar, with seven of the top 10 games having more “unique wallet addresses interacting with dapp’s smart contracts” and all of the top five games posting positive results.

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Bitwise launches Web3 ETF for institutional and retail investors

Bitwise launches Web3 ETF for institutional and retail investors

Uverejnil používateľ | okt 5, 2022 |

Bitwise Asset Management announced on Oct. 3 a new exchange-traded fund (ETF) to both institutional and retail investors, giving them access to companies “positioned to benefit” from Web3 growth.  Bitwise in a statement said it marks “the next wave of the internet’s development characterized by greater decentralization and individual ownership of data.”We have exciting news! Today we launched the Bitwise Web3 ETF (BWEB), a fund designed to provide focused exposure to one of the fastest-emerging themes in technology. For more information about the fund, go to: https://t.co/8rjQbwFJrM pic.twitter.com/RumkXViGl8— Bitwise (@BitwiseInvest) October 4, 2022Traded under the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies directly linked to Web3 business activities. This includes Web3 infrastructure, finance, Web3-enabled Metaverse and digital worlds, development and governance, and the Web3-enabled creator economy. Hunter Horsley, Bitwise’s CEO, said: “The Bitwise Web3 ETF seeks to capitalize on this great opportunity by offering investors of innovation a straightforward way to access the space. It also leverages our expertise in crypto—the cornerstone of Web3—as many of these companies are centering their businesses on blockchain technology. We’re looking forward to seeing their anticipated continued growth as the space unfolds.” Last October, the company filed its second application with the Securities and Exchange Commission (SEC) to create a spot Bitcoin exchange-traded fund (ETF). After delays by the regulator, the final decision is expected this month. The first proposal was sent in January 2019 and rejected by the SEC in October of the same year. Web 3.0 is considered as the future version of the internet. Based on public blockchains, it is decentralized, meaning that rather than consumers accessing the internet via services mediated by companies like Google, Apple or Facebook, individuals, themselves, own and govern sections of the internet.

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Three Arrows Capital fund moves over 300 NFTs to a new address

Three Arrows Capital fund moves over 300 NFTs to a new address

Uverejnil používateľ | okt 5, 2022 |

Starry Night Capital, a nonfungible-token (NFT)-focused fund launched by the co-founders of the now-bankrupt hedge fund Three Arrows Capital (3AC), has moved over 300 NFTs out of its address, according to reports. The Starry Night Capital was founded last year by Su Zhu and Kyle Davies, and pseudonymous NFT collector Vincent Van Dough. At the time, the fund planned to exclusively invest in “the most desired” NFTs on the market. Blockchain data provider Nansen on Oct. 4 on Twitter noted that the NFTs were reportedly shifted from a wallet associated with the fund, including “Pepe the Frog NFT Genesis,” which sold for 1,000 Ether (ETH) in October last year, worth $3.5 million at the time. Nansen said the NFTs previously collected by Starry Night Capital are moving to a Gnosis Safe address. Gnosis Safe is a platform used to manage digital assets on Ethereum, giving users complete self-custody over funds and digital assets. A report from Bloomberg estimates the Starry Night Capital collection’s total value sits at around $35 million.NFTs previously collected by Starry Night Capital are moving to a Gnosis Safe address.These NFTs include:- Pepe the Frog NFT Genesis, sold for 1,000 ETH (~$3.5M) on Oct 5, 2021- Fidenza #718, sold for 240 ETH (~$1.1M) on Nov 13, 2021Some other notable NFTs below pic.twitter.com/8PU13CqMnn— Nansen (@nansen_ai) October 4, 2022It comes months after the Singapore-based crypto hedge fund, 3AC was ordered into liquidation by a court in the British Virgin Islands, leading to the appointment of liquidation firm Teneo, which has gained control of at least $40 million of 3AC assets so far as of an August report from Cointelegraph. That sum however accounts for only a tiny fraction of the 3AC’s debt to its creditors, which amounts to at least $2.8 billion.The NFT’s transfers came almost four months after Starry Night Capital’s main crypto wallet moved almost all of its digital tokens to a new address. The Singapore-based crypto hedge fund, 3AC, became one of the many crypto firms that went bankrupt following the collapse of the Terra ecosystem earlier this year. The company, which once had over $10 billion in assets under management, eventually filed for a Chapter 15 bankruptcy on Jul. 1 in a New York court.

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Cathie Wood's ARK Invest to offer crypto strategies to investment advisors

Cathie Wood's ARK Invest to offer crypto strategies to investment advisors

Uverejnil používateľ | okt 3, 2022 |

Cathie Wood’s investment firm, ARK Investment, is making its two actively managed crypto strategies available to registered investment advisors. The strategies will be available as separately managed accounts (SMAs) through a collaboration with the digital asset platform Eaglebrook, the companies announced on Oct. 3. The ARK Cryptocurrency Strategy aims to capitalize on the monetary revolution, said the companies in the statement, claiming that it “could serve as a strategic allocation in well-diversified portfolios.”Cathie Wood, ARK’s founder and CEO, said:”The strategies will be separately managed accounts (SMAs) designed to meet the needs of financial advisors, wealth managers, and their clients by offering direct ownership, low minimums, and portfolio reporting integration among other benefits.”This collaboration should allow Ark to expand its services beyond exchange-traded funds (ETFs). An SMA is a portfolio created by a financial advisor or investment firm for a single investor. On ETFs, investors own shares of the fund instead of the underlying securities. The top-tier fund at ARKs, the Ark Innovation ETF, seeks the long-term growth of capital by investing in disruptive innovation companies, according to its official website. It has $7.946 billion under management and was down 60.11% as of Sept. 30, while the S&P 500 declined 23.87% and the BTC price dipped over 58% in 2022. Wood is known for being a big Bitcoin (BTC) believer, who predicted that BTC would hit $1 million by 2030. Yassine Elmandjra, ARK’s crypto asset analyst, said in the statement that “much of the speculative behavior has died down.” She added that the moment “presents an attractive entry point for investors.”Ark sold over 1.4 million Coinbase (COIN) shares through three of its funds in July as regulators probed the firm for alleged insider trading. At that time, the firm was one of Coinbase’s largest shareholders.

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