Is the NFT craze just the beginning or the end? Prominent venture capital firm Three Arrows Capital establishes NFT fund with a goal to raise one billion dollars!

The trading volume in the NFT market has been steadily increasing since late July, with prices of top collections such as Art Blocks and CryptoPunks multiplying several times in just a month. This phenomenon indicates that more and more investors are realizing the investment opportunities that the NFT market can bring. The well-known Singapore investment firm Three Arrows Capital also revealed plans today (31) to make significant investments in the NFT market.

Three Arrows Capital Establishes NFT Fund

Three Arrows Capital announced today the establishment of a new fund, Starry Night Capital, which, according to its Twitter profile, will focus on "curating the world's best NFT collections." To achieve this goal, Three Arrows Capital will collaborate with anonymous NFT collector Vincent Van Dough.

Vincent Van Dough also shared his thoughts on this collaboration on Twitter:

We believe that to gain exposure in the cultural paradigm shift brought by NFTs, the best way is to have top-tier series products that the public desires.

According to Decrypt, Three Arrows Capital's founder Kyle Davies confirmed that the primary goal of Starry Night Capital is to raise $100 million.

The establishment of a new fund specifically for NFTs by Three Arrows Capital may not come as a surprise. After all, in early August, the firm made high-dollar purchases of CryptoPunk NFTs, and just last Friday (27), it acquired an Art Blocks NFT for 1,800 ETH (approximately $5.76 million), which remains the highest price paid for an Art Blocks NFT in the secondary market to date.

Future Goals of Starry Night Capital

However, Three Arrows Capital's establishment of Starry Night Capital is not only about recognizing the investment value of the NFT market; contributing to the NFT community is also one of their goals. Vincent Van Dough stated on his Twitter:

Our goal is to launch an NFT education website by the end of the year, explore ways to bring more exposure to emerging artists, and establish virtual galleries in major cities to showcase our collections to the public.

To increase the value of NFTs, the primary goal is to attract more funds into the NFT market. Three Arrows Capital aims to expand the entire NFT ecosystem through education and exhibitions. As more people understand the principles of NFTs and recognize their value, naturally, more individuals will be interested in entering this market. With smoother capital flow, Three Arrows Capital's target of raising $100 million is likely to be more easily achieved.