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MetaKovan, the pseudonymous founder of MetaPurse, is the buyer behind the winning bid of $ 69 million for an NFT Beeple at Christie’s yesterday. It was the third highest ever selling price for a work by a living artist.
“When you think of high value NFTs, this one will be pretty hard to beat,” MetaKovan said in a statement released by Christie’s. “And here’s why – it’s 13 years of daily work. The techniques are repeatable and the skills are surpassable, but the one thing you can’t digitally hack is time. It is the jewel in the crown, the most precious work of art of this generation. It is worth $ 1 billion. “
The $ 69 million NFT featured a collage containing 5,000 mostly digital illustrations by Mike Winkelmann, better known as Beeple, which were created for his Everyday series, in which he creates a new work of art every day. Winkelmann’s popularity online and his prolific production certainly contributed to the sky-high price tag, but a major driver was also the growing hype around NFTs.
MetaKovan previously spent over $ 2.2 million to acquire 20 Beeple works in a single edition in December. Although the works were purchased under an assortment of names, there was apparently only one entity behind the acquisitions. The organization, MetaPurse, describes itself as a “crypto-exclusive” fund. His first project was to build these 20 original Beeple works in a digital museum and then effectively sell shares of that museum as digital tokens so that a multitude of buyers could have an interest in those works.
NFTs are digital files that live on a blockchain and validate ownership of a related asset – in this case, the collage. Some artists and collectors see it as the future of digital art by finally offering a way for buyers to acquire works devoid of a physical component. Prices for major artist NFTs have exploded in recent weeks, with Grimes selling NFT for $ 6 million and Steve Aoki selling a single video for $ 888,888.88.
Winkelmann said The edge Monday that he hopes to work with the buyer to find ways to physically display the collage. “Do you want it on a television in your house?” We can do this … do you want to do it at Art Basel? Let’s throw it on the side of a fucking building, ”Winkelmann said. “It doesn’t have to be a one-way street. It can take different forms over time. “
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