A few days ago, Beeple, an artist, sold his painting for around $69 million, which broke several records. The painting is now one of the most expensive paintings by a living artist and the most expensive work sold as an NFT. The non-fungible token space has been booming within the last few days, especially since investors are interested in digital collectibles.
Unlike Bitcoin and Ethereum, which are fungible tokens, non-fungible tokens are unique, meaning that they are one of a kind. These collectibles cannot be swapped for other assets, and the tokens usually represent ownership of a particular creative work. The industry has gotten people’s attention, especially since Beeple sold his artwork at a very high price.
Metakovan reveals his identity
The buyer, which the space knows has ‘Metakovan,’ is a man called Vignesh Sundaresan. Although not many people know the man, people in the NFT space will forever remember his name for his iconic buy. Yesterday, through a Substack post, the buyer’s identity was revealed to the public, and people have since then been interested in knowing the buyer.
The purchased painting is presently the space’s most expensive digital art piece. The buyer explained via Twitter that he could have remained anonymous but decided to drop some hints. The artwork is called “Everydays: The First 5000 Days” by the creator, which auctioned it out with House Christie’s help. The digital art was purchased last week, but there is still a huge buzz over the buy on social media. The bidder fought hard and only managed to win the artwork by staking $250,000 more than Justin Sun’s bid.
Justin Sun is the CEO of Tron, and he has been appearing more frequently on the news these days due to his involvement in digital collectibles. The executive dropped a bid for Jack Dorsey’s first tweet, which he auctioned some weeks ago.
Famous buyer explains that he only buys interesting NFTs
Many thought Justin Sun had won the bid, but it turns out that he lost narrowly to the anonymous buyer. The billionaire revealed he lost the bid to ‘metakovan’ who had the winning bid. This is not the buyer’s only heavy buy, and the bidder has been purchasing NFTs for the past few months.
Most of the purchases are made by bidding, and Metakovan has been upping his stakes to go home with the digital collectibles. The buyer seems to be very interested in NFTs, based on his bid for one of Beeple’s artworks called ‘Last-Second,’ which he offered over $700,000.
Regarding his continuous purchase of expensive artworks, the buyer explained that he doesn’t think there is a limit to how much a person can pay and added that he would not purchase an artwork if he is not fascinated by its story. He said that he is reading for an artwork that captures the imagination, meaning that the famous buyer might continue to purchase more expensive NFTs. The buyer explained that he is a crypto-friendly Indian immigrant that loves NFTs. He also founded Portkey Technologies and also the current CEO.