RNS3 Feb 2022 16:15
As KR1 is listed on aquis LSE sometimes does not get the RNS's. Very Interesting investment.
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to
announce that the Company has invested a total of US$5,000,000 into Starry
Night Capital ("Starry Night").
Starry Night is a specialised investment fund dedicated to assembling a
collection of high-profile non-fungible tokens ("NFT"). The fund was launched
by Three Arrows Capital's Su Zhu and Kyle Davies alongside pseudonymous NFT
collector 'Vincent Van Dough'. To date, key assets held in Starry Night's
portfolio include the first authorised 'Pepe the Frog' NFT by creator Matt
Furie, prominent artworks by XCOPY, a Beeple TIME Magazine cover and NFTs from
Tyler Hobbs' Fidenza algorithm.
The investment was executed through a subscription to 5,000,000 securities
designated as "Class Starry Night Shares of US$1.00 each for November 2021" in
Three Arrows Fund Ltd., which is managed by ThreeAC Ltd., a member of the
Three Arrows Capital group.
Three Arrows Capital was founded in 2012, initially trading traditional
currencies in emerging markets, but has been focusing on investments into
digital assets and the crypto markets for many years.
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
"The investment in Starry Night provides KR1 and its shareholders the best
possible exposure to the booming but still nascent NFT market category.
Successful investing into this fast moving and creative ecosystem requires
highly specialised knowledge, making it the right move to partner with the
outstanding Starry Night team. As NFTs continue to grow, both, in cultural
significance and as a recognised asset class by legacy institutions, we are
confident that our participation in the Starry Night fund is going to deliver
great returns over time."
Janos Berghorn, Head of Research of KR1, commented:
"Analogous to underlying 'native' digital assets of decentralised networks,
prominent NFTs from respected artists such as XCOPY, Beeple, Tyler Hobbs and
others present equivalent opportunities. As a first-mover and with an
influential network, Starry Night Capital is positioning itself as one of the
category defining participants in the NFT sector."