Vignesh Sundaresan popularly called MetaKovan organized an event in the virtual metropolis of Origin City in order to celebrate his recent purchase of series of images by the digital artist Beeple worth $2.2 million. He hired architects to to make the gallery in the form of an online “metaverse” to display the images. It was a spotlight moment fir Sandaresan as he also launched a crypto token giving buyers a stake in art pieces.
Then after two months, he bid about $69 million to buy another of Beeple piece “Everydays: The First 5000 Days” at a Christie’s sale. It was the first time for a auction house to sell a digital artwork in the form of crypto asset called a Non-Fungiblr Token (NFT) which is considered a digital certificate of ownership.
Thus act made Sundaresan to become the top spender among crypto investors. The popularity of NFT hit great heights after this. The Christie’s set off a gold rush with various celebrities launching NFT for sale.
Now with time, NFT will be seen as the building Block of a new digit economy and the next evolution in art collection. The internet will also turn into a a parallel universe of virtual spaces called the metaverse.
Sundaresan stated that he purchases NFTs primarily as investments to own the images and he likes to have an autograph from his favorite artists.
Sundaresan purchases are aim at the rise of the “global south” and his net worth is also on fleek. But he also had a very rocky path in accumulating his assets and faced various setbacks during his career. He also stated, “It is very hard to be an entrepreneur” and added, ” I would never do something to hurt someone financially.”
But the the investor represents a new generation, the cryptocurrency skilled investors who have created fortunes put of sight of financial regulators. Sundaresan described the ceyptomarket as the “Wild Wild West” with many ways for a “stupid person” to lose money.
