The wallet was long dead, ever since Zhu Su and Kyle Davies escaped to the United Arab Emirates and stopped returning creditors’ calls.
The stash of more than 400 assets had been all but completely forgotten, now nothing more than a remnant of a more prosperous time for the Bitcoin Billionaires. Hundreds of relics and trinkets recalling the wild promises of stock-to-flow and web3.
And as Three Arrows Capital (3AC) and its promises collapsed, so did its NFT arm, Starry Night Capital, its NFTs destined to lie forever entombed with their kings.
Or that’s what everyone thought.
Starry Night has transferred everything from Pepes to CryptoKitties
Three days ago Starry Night Capital began to transfer NFTs. The transfers were small to start with – only three at first. But today the pace increased dramatically with a further 375 NFTs on the move.
At the same time, the official Starry Night Capital NFT wallet drained its six remaining NFTs into the same wallet address.
The NFTs, which range in last sale price from 1,000 ETH (over $1.25 million) to 0.04 ETH ($53), include everything from Beeples and Pepes to Time Magazine’s “The Future of Business” and CryptoKitties. The collection, if sold, even at its current market value, would likely fetch millions.
A nod to the cryptocurrency degens
In what can only be seen as a nod to cryptocurrency insiders, 80 assets remain in the wallet from which most of the NFTs were transferred. The remaining NFTs are almost exclusively iterations of Pepe the Frog.
Zhu and Davies, though exceedingly quiet since the collapse of their fund, have been known for their sh*tposting and Twitter spats. In his last public statement a defiant Zhu said, “Sadly, our good faith to cooperate with Liquidators was met with baiting.”
It’s unclear if this most recent spate of transfers has anything to do with the liquidation of Three Arrows Capital.