Just when Justin Sun was about to score an ad stunt worth about $69 million and was just seconds or less away from winning the auction of the most expensive Non-Fungible Token in the world, he experienced what he least expected.
At the Christie’s Auction house, history was made with the sale of EVERYDAYS: THE FIRST 5000 DAYS as the first sale of an electronic inventory in the company, the third in rank in the list of the expensive piece a living artist ever sold, and the most expensive non-fungible token in the whole world.
Justin Sun on the verge of Winning the Auction
The bid of the NFT token was raised gradually to a seven figures price, but Justin Sun grabbed the opportunity to possess the piece by offering $69 million in total (with analysis of $60 million for the piece and 9 million for the auction house).
The offer had no opposition for quite a while, and everything seemed so perfect for Sun – a man who could afford a $4.5 million dinner with one of the wealthiest men in the world, Warren Buffet.
But the shocking thing happened as an unknown bidder raised the bid at the literal last minute with just $250,000, but Sun struggled so hard to repossess the piece by submitting a new bid of $70 million but could not be processed by Christie’s Auction house before the bid time runs out. This means that the NFT was sold for just $69.3 million.
With Sun missing the purchase of the most expensive NFT token in the world, he didn’t miss another one promoting his blockchain technology. He offered the Auction House a chance through his tweet to help them develop a stable and reliable platform on the TRON blockchain to avoid more setbacks from happening in the future.
The question trending now is “who won the Auction, and Why?”
For a while, the bidder and the winner remain anonymous, and with the unsolicited silence, the media assumed that it was Justin Sun that won the bid until he came to decline the claims.
But later, the auction house confirms the buyer as an investor that goes by an incognito name Metakovan. It was also confirmed that he is the chief financier and the founder of the Metapurse, the biggest NFT fund in the whole world.
The news of the purchase, however, was not confirmed by Metakovan but was confirmed by Metapurse. And one of the mindsets behind the crazy expulsion of funds to possess the art was to imitate the selling of the Basquiat portrait that was purchased for 20 grand and sold back for $110 million – the piece could have the same fate.