Robbing Peter to Buy Paul’s NFT

James Tarmy, reporting for Bloomberg:*

A digital asset investor who goes by the handle Metakovan and refuses to give his full name, announced that he is the buyer of the record-breaking $69.3 million digital artwork that sold Thursday. Christie’s auction house, which hosted the sale, confirmed his statement, also declining to reveal his legal name.

Metakovan is the chief financier behind Metapurse, a crytpo-based fund that acquires NFTs and other virtual properties; it claims to be the largest NFT fund in the world.

So an investor in an NFT venture made sure an NFT auction made news headlines? I’ll gladly admit I don’t understand this entire NFT thing, but this seems like a publicity scam.

* Don’t get me started on this outfit.

Friday, 12 March 2021