Is it raining in the wet? The buyer of the Crypto Art work of record is ... a Crypto Investor

It’s a question many art lovers have been asking themselves: who is the buyer who bought Everydays - The First 5000 Days, the Crypto Art work created by Beeple (born Mike Winkelmann) the day before yesterday and sold at auction at Christie’s for the record sum of $69.3 million, making Beeple the third highest paid living artist in history, after Jeff Koons and David Hockney? Shelling out the hefty sum was a “Crypto Investor” nicknamed Metakovan (real identity unknown), founder of the investment fund Metapurse, a Singapore-based collection of NFT works, which Metakovan regularly purchases and exhibits in virtual museums. Metakovan already owns the largest existing collection of Beeple’s works. Revealing the name of the buyer was the auction house itself.

About Beeple’s work, Metakovan, convinced that he has made an excellent investment and secured himself a sort of Sistine Chapel of Crypto Art, said that “when you think of NFTs of great value, this work is pretty hard to beat. Here’s why: it represents thirteen years of daily work. The techniques are replicable and the skills can be surpassed, but the one thing you can’t attack is time. This is the crown jewel, the most important work of art for this generation. It is worth a billion dollars.”

However, precisely because the buyer is an investor in the industry, the sale has raised questions, and there are those who wonder whether it is speculation (since the fund could benefit greatly from the world’s growing attention to the NFT market) or a bubble that is bound to burst soon. And what’s more, the market at the moment is very self-referential: the traditional players at the moment are standing at the door, nor do the museums and more authoritative institutions seem to be interested in this wave for now. Opinions, however, are divided: there are those who speculate that it will soon deflate, and those who believe that NFTs are here to stay, that is, destined to last and open new frontiers in the market (there are also those who see the situation very positively, envisioning a more decentralized and democratic market).

Pictured is Beeple’s work that sold for $69 million.

Is it raining in the wet? The buyer of the Crypto Art work of record is ... a Crypto Investor

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