Easy enough to reproduce:
Use <Image source={{uri: null}} /> and it will crash your application. Likewise, invalid URIs, such as <Image source={{uri: '//facebook.github.io/react-native/img/header_logo.png'}} /> will also crash.
This is because line 279 in ReactImageView.java of ReactAndroid passes a null URI to line 103 in ImageRequestBuilder.java of fresco that calls Preconditions.checkNotNull on the null uri, which throws a NPE.