The third most expensive artwork by a living artist ever purchased at auction is NFT
Vignesh Sundaresan, better known as MetaKovan, has amassed an NFT collection worth tens of millions of dollars by popular digital artist Beeple (Mike Winkelmann). MetaKovan (translated from his native Tamil as “King of Meta”) now represents a new wave of investors who have amassed their fortunes through the decentralized crypto market.
At Christie’s auction, MetaKovan bid an astonishingly high $69 million for the Beeple piece “Every Day: The First 5,000 Days.”
The 41-year-old painter’s famous piece of art is a collection of 5,000 images taken over 5,000 days.
The legendary British auction house, founded in 1766, sold famous masterpieces by Picasso, Monet, and Klimt. This sale marked the first time that a major auction house had sold digital artwork in NFT format with a digital title certificate.
Sundarsan told Reuters he buys NFTs primarily as investments, while also enjoying owning them as “a signature from your favorite artist.”
Fortune ranked NFT’s 50 best sellers, including Jay-Z, Paris Hilton, and many other celebrities. Beeple was definitively featured as the #1 bestseller.
on the flip side
- Cryptocurrency investors are constantly at risk of losing money on “speculative assets,” due to their lack of regulation.
Why should you care?
NFTs are starting to represent a revolution for art collectors and are part of an entirely new digital economy.
Join to get the other side of cryptocurrency
Upgrade your inbox and get our DailyCoin Editors Picks 1x per week delivered straight to your inbox.
You can always unsubscribe with just one click.
Continue reading on DailyCoin
Fusion Media or anyone involved with Fusion Media shall have no liability for loss or damage as a result of reliance on the information including statements, quotes, charts and buy/sell signals included on this website. Please be fully aware of the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment.