{"id":393,"date":"2021-03-17T07:50:32","date_gmt":"2021-03-16T23:50:32","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=393"},"modified":"2021-03-15T11:54:16","modified_gmt":"2021-03-15T03:54:16","slug":"69-m-beeple-buyer-is-a-pseudonymous-singapore-bitcoin-og","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/69-m-beeple-buyer-is-a-pseudonymous-singapore-bitcoin-og\/","title":{"rendered":"$69 M. Beeple Buyer is a Pseudonymous Singapore \u2018Bitcoin OG\u2019"},"content":{"rendered":"<p>If you hoped that the revelation of the buyer of\u00a0<a id=\"auto-tag_beeple\" href=\"https:\/\/www.atelierauction.com\/globalupdates\" data-tag=\"beeple\">Beeple<\/a>\u2019s\u00a0<a href=\"https:\/\/www.atelierauction.com\/globalupdates\" target=\"_blank\" rel=\"noopener\">$69 million (42329.453 ETH)\u00a0<em>Everyday: The First 5,000 Days<\/em>\u00a0<\/a>would help you understand the mind-boggling sale at Christie\u2019s or the value of\u00a0<a id=\"auto-tag_nfts\" href=\"https:\/\/www.atelierauction.com\/globalupdates\" data-tag=\"nfts\">NFTs<\/a>, you had no luck today. The auction house announced this afternoon that the buyer uses the pseudonym Metakovan and is the proprietor of an NFT investment fund called\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\" target=\"_blank\" rel=\"nofollow noopener\">Metapurse<\/a>.<\/p>\n<p>Twobadour, whose position is described as \u201cSteward of Metapurse,\u201d describes Metapurse as a collection of \u201ciconic or culturally significant NFTs.\u201d Metakovan, who was a \u201cBitcoin OG,\u201d according to the Twobadour. He invested in cryptocurrency from the \u201cearly to middling days\u201d around 2013 when Bitcoin cost $13 (it trades around $57,500 today.)<\/p>\n<p>Metakovan and Metapurse have been been funding acquiring NFTs since late 2016. \u201cWe haven\u2019t sold a single NFT,\u201d the Steward of Metapurse adds. \u201cThere isn\u2019t a business model as such because there are no customers or investors apart for Metakovan who just funds it.\u201d Though Twobadour\u2019s own statement is somewhat contradicted by his recounting of \u201cmore creative ways to summon liquidity around digital assets rather than trying to flip them.\u201d<\/p>\n<p>Earlier in the year, Twobadour says, the fund acquired 20 single-edition pieces by Beeple on Nifty Gateway paying $2.2 million for the group. \u201cWe built monuments for them in virtual worlds,\u201d he says. \u201cWe bundled them and fractionalized them into tokens called B 20s. So now the market supply of those tokens exceeds $19 or $20 milllion dollars.\u201d The total market capitalization of the\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\" target=\"_blank\" rel=\"nofollow noopener\">B20 tokens is currently at more than $215 million<\/a>.<\/p>\n<p>Metapurse hasn\u2019t thought of any ways to create liquidity around\u00a0<em>Everyday: The First 5,000 Days<\/em>\u00a0but the duo believe Beeple\u2019s work is unique because it represents 13 years of the artist\u2019s time. \u201cTechniques are replicable and skill is surpassable,\u201d Twobadour says, \u201cbut the only thing you can\u2019t hack digitally is time. This is the crown jewel, the most valuable piece of art for this generation. It is worth $1 billion.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you hoped that the revelation of the buyer of\u00a0Beeple\u2019s\u00a0$69 million (42329.453 ETH)\u00a0Everyday: The First 5,000 Days\u00a0would help you understand the mind-boggling sale at Christie\u2019s or the value of\u00a0NFTs, you had no luck today. The auction house announced this afternoon that the buyer uses the pseudonym Metakovan and is the proprietor of an NFT investment [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[105],"class_list":{"0":"post-393","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news","12":"tag-nfts"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$69 M. Beeple Buyer is a Pseudonymous Singapore \u2018Bitcoin OG\u2019 - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"If you hoped that the revelation of the buyer of Beeple\u2019s $69 million (42329.453 ETH) Everyday: The First 5,000 Days would help you understand the mind-boggling sale at Christie\u2019s or the value of NFTs, you had no luck today.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/69-m-beeple-buyer-is-a-pseudonymous-singapore-bitcoin-og\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$69 M. 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