The winner of the landmark auction explains his investment thesis on NFTs. According to digital art collector MetaKovan: “Non-fungible tokens are ten times better than their physical counterparts.”
It was learned that the anonymous art boss, Beeple, who turned out to be blockchain entrepreneur Vingaresh Sundaresan, purchased the “EVERYDAYS: THE FIRST 5000 DAYS” NFT for 69 million dollars.
Explaining the reasons behind this acquisition in an exclusive interview with Cointelegraph, MetaKovan explained:
“He pointed out that NFTs, which are defined as” unique digital assets “that contain a picture, video, sound file or evidence of the digital equivalent of a physical asset, have many advantages over traditional artworks. Some of these advantages are that they do not have storage costs, they are easy to transfer and their ownership can be shared. He also thinks they can democratize the art world for digital artists all over the world, regardless of their social background and nationality. ”
MetaKovan even mentioned that NFTs will make crypto widespread: “Many people will meet crypto through NFTs.”
The art patron denied concerns about potential risks about the speculative bubble in the NFT market. He thinks the madness around NFTs serves to accelerate adoption:
“It’s okay if there is speculation, because we’re doing everything fast.”
MataKovan as a result of the NFT market; He thinks that major cryptocurrencies like Ethereum and Bitcoin will affect their prices, adding that this will happen when many more people will be using NFTs in a year or less.