Indian Crypto Investors Metapurse Explain Why They Spent $69 Million on an NFT

Friday, 19 March 2021Newsdesk

Metapurse, a crypto-exclusive fund, recently bought ‘Everydays - The First 5000 Days' – a jpeg file – by an artist who goes by the pseudonym Beeple for $69.3 million (roughly Rs. 503 crores). Metapurse was created by Metakovan – also a pseudonym – and his partner Twobadour. Now, Metapurse has shared a blog post explaining the story behind their fund and their appreciation for NFTs or Non Fungible Tokens. The post also reveals the first names of the two investors as Vignesh (Metakovan) and Anand (Twobadour), who are both immigrants to Singapore, from Tamil Nadu.

New Delhi, 19 March 2021

As per news report of NDTV, Metapurse spent $69.3 million in a first of its kind auction at Christie's to purchase a jpeg file, a virtual mosaic which is a collage of artworks created by artist Mike Winkelmann (Beeple), who has been creating a new digital picture every single day since 2007. This became the third costliest artwork in the world ever and was purchased pseudonymously by the investors, who then revealed themselves on Clubhouse, before writing a detailed Substack post about it as well.

Source - NDTV
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