$69 Million Beeple Art Buyer Revealed as NFT

[Imran232]

This is the $69M ART. Which shows his 5000 Days all art pices

Pseudonymous NFT investor Metakovan was the high bidder on Beeple's history-making NFT, according to a statement from British auction house Christie's. He paid over $69 million for the piece.

Bloomberg had previously reported that crypto entrepreneur Justin Sun was the buyer, but Sun later said that he'd been outbid at the last minute.

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[Hydrogen]

The famous Mona Lisa by Leonardo Da Vinci was insured for $100 million in 1962.

It set a guinness world record for the most expensive insurance policy ever put on a painting.

Highest insurance valuation for a painting

The highest known insurance valuation for a painting is $100million (£53.55 million) assessed for the move of The Mona Lisa (La Gioconda) by Leonardo da Vinci (1452–1519, Italy) from the Louvre in Paris, France, to Washington, DC, USA and then New York City, New York, USA for a special exhibition 14 December 1962 to 12 Mar 1963.

https://www.guinnessworldrecords.com/world-records/highest-insurance-valuation-for-a-painting

...

Rembrandt painting sold at Sotheby's virtual auction shatters record for one of his self-portraits

A self-portrait by Rembrandt sold for $18.7 million at the virtual auction — a record price for a self-portrait by the Dutch master, the auctioneer’s said.

https://www.foxnews.com/world/rembrandt-painting-sold-sothebys-record-self-portraits

Last year a self portrait painting by Rembrandt sold for $18.7 million.

Imagine NFTs selling at significantly higher prices than famous paintings and art.


 

[batang_bitcoin]

There's already somebody who has made a thread out of this topic.
Thread: Crypto Art record! 69M for a Beeple
You don't need to make one for this and lock the topic instead to pursue the discussion on the other thread that was made earlier than you.

[Twentyonepaylots]

Beeple's art is disturbing, yet it is only because it opens people's eyes. I believe the $69 Million bid was both memed out and justified, since it's 69 (lmao nice) and the fact that this is 5000 day's worth of pristine quality art pieces you wouldn't get elsewhere but from Beeple. It inspires me to become an NFT artist really as I have a few artworks on canvas and on paper too that I can scan and then sell on the blockchain.

[so98nn]

$69 million !!! Dam it that’s amazing price tag for the art. Being artist, I am very very happy that someone is getting paid for their creativity and imagination. I know a life of artist, it’s hard, competitive and you always have to stand out from the crowd.

Scientifically speaking the genome is changing for the new generation and we are seeing artists everywhere! The thing is there is value for art but people are being very very picky. I am not sure if my pencil artwork will ever get recognised like this ever but I’m gonna make excellent artwork and gonna spend huge time on the same.

[Johnyz]

The famous Mona Lisa by Leonardo Da Vinci was insured for $100 million in 1962.

It set a guinness world record for the most expensive insurance policy ever put on a painting.

Highest insurance valuation for a painting

The highest known insurance valuation for a painting is $100million (£53.55 million) assessed for the move of The Mona Lisa (La Gioconda) by Leonardo da Vinci (1452–1519, Italy) from the Louvre in Paris, France, to Washington, DC, USA and then New York City, New York, USA for a special exhibition 14 December 1962 to 12 Mar 1963.

https://www.guinnessworldrecords.com/world-records/highest-insurance-valuation-for-a-painting

...

Rembrandt painting sold at Sotheby's virtual auction shatters record for one of his self-portraits

A self-portrait by Rembrandt sold for $18.7 million at the virtual auction — a record price for a self-portrait by the Dutch master, the auctioneer’s said.

https://www.foxnews.com/world/rembrandt-painting-sold-sothebys-record-self-portraits

Last year a self portrait painting by Rembrandt sold for $18.7 million.

Imagine NFTs selling at significantly higher prices than famous paintings and art.


 

We're on a different era now where technology are booming, so I don't thinks its fair to compare this one but with regards to its value, that Painting are still more valuable.

Anyway, I can't imagine Justin Sun is so interested to get this art but unfortunately he was outbid by someone else. Imagine the demand for NFT right now, I believe we're still bound for a higher heights with NFT, this is just the beginning and better to get in now before it burst.

[Flowzer]

The buyers really a whale, i cant count how much the money 69$ million is.

In the Christie’s press release, Metakovan said “it is worth $1 billion.”

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

[Kittygalore]

The buyers really a whale, i cant count how much the money 69$ million is.

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

They have a lot of money and most people that has a lot of money needs something to spend it on, there is a reason why there are art galleries that sell paintings for millions. Maybe in the near future, that can be a possibility but I don't think that there are going to be a lot of buyers at that price point.

[hugeblack]

It is an open market and art is one of the ways in which money laundering is carried out. You cannot specify an end to speculation in auctions because the price is often not subject to any logical controls.
Sometimes a lot of people put their bets on something in order to increase its value.


In general, I do not understand NFT I think it is something that is not based on any basis and is not supposed to have a zero value.


To be fair, if NFT succeed in taking a value, the additional feature that will be included is the ability to transfer arts without paying a lot of money.

[ultrloa]

The buyers really a whale, i cant count how much the money 69$ million is.

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

They have a lot of money and most people that has a lot of money needs something to spend it on, there is a reason why there are art galleries that sell paintings for millions. Maybe in the near future, that can be a possibility but I don't think that there are going to be a lot of buyers at that price point.

Collectors will not just look at the value since if they see something caught their attentions they will make sure to buy it at any cost, it's a personal satisfaction and I'm so sure that the buyer is so satisfied on what he bought there. But one thing is for sure here many artist will showcase their artworks since those news creates big news on art industry.

[goaldigger]

The buyers really a whale, i cant count how much the money 69$ million is.

In the Christie’s press release, Metakovan said “it is worth $1 billion.”

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

NFT are getting crazy nowadays, with a lot of expensive staff that no one knows will be sold for millions of money.
Whales are playing with their money and I'm sure that buyer knows what she's doing, she might sell it soon with a huge profit as well, we'll see.
Famous artist are getting paid well now, and NFT make that possible.

[FairUser]

Slightly contrary to the market trend i wish they could use this money to raise funds to help those who were in trouble during the pandemic.
As people's real-life values ​​get worse and worse, these virtual values ​​go up again.
I don't want to say that the NFT is exaggerated but really compared to the world we are out of balance.

[slapper]

If money laundering was not an issue, many people would admire such great work from both artists and the NFT. However, it is hard to believe such artwork worth so much money like that. There is no point wasting their money unless buyer is absolutely a crypto enthusiast

Anyway, congrats to the man for having pieces of art that create impact on the digital world

[Flowzer]

The buyers really a whale, i cant count how much the money 69$ million is.

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

They have a lot of money and most people that has a lot of money needs something to spend it on, there is a reason why there are art galleries that sell paintings for millions. Maybe in the near future, that can be a possibility but I don't think that there are going to be a lot of buyers at that price point.

I agree that hard to decide value of any art. But this 69$ million is not a small money, its really huge.
Ofc it will lead public opinion to kind of money laundering or another criminal issue.

[ultrloa]

The buyers really a whale, i cant count how much the money 69$ million is.

If he can re-sell it for $1 billion, i will absolutely goin crazy. Even its half of it, like 500$ million, its hard to believe.

They have a lot of money and most people that has a lot of money needs something to spend it on, there is a reason why there are art galleries that sell paintings for millions. Maybe in the near future, that can be a possibility but I don't think that there are going to be a lot of buyers at that price point.

I agree that hard to decide value of any art. But this 69$ million is not a small money, its really huge.
Ofc it will lead public opinion to kind of money laundering or another criminal issue.

This will be the perspective of the costumer on how he put a value on the art since if he really want to get that piece he will put all at any cost that's why it's not surprising to see especially in the art scene since many rich collectors are there. But also let's just see this possibilities since so far I never heard any money laundering case using this industry as a front.

[tygeade]

I do not know who this Metakovan is, but paying 69 million dollars for a NFT still doesn't make sense to me at all, it should have been a lot less. Justin Sun being outbidded at the last second means that he paid a lot as well, he should use that much millions of dollars on marketing Tron instead of spending on silly stuff like this.

You know how Binance Smart Chain started to rival ETH? They have spent 100 million dollars on projects that would be on BSC as a backbone, put money back into Tron so that there would be a lot of huge projects and promote them and do their advertisements and marketing, that way you would be basically making as much money for Tron as you can, it would make it go into top 10 easily. But, instead dude is chasing silly and definitely not worthy NFT's with that kind of money, here is your reason why Tron is not going up like others.

[avikz]

I seriously don't understand the craze around NFTs! Do you really think a JPG file should be valued at this level? I mean how insane it can be to spend $69 million for a jpg file which doesn't exist physically! Can't really understand!

I don't think this would go on for long! It is like the early days of ICO and later IEO which has lost all its glory and moved to Defi now. I am sure NFT will end up like this only!

[Lorence.xD]

Beeple's art is disturbing, yet it is only because it opens people's eyes. I believe the $69 Million bid was both memed out and justified, since it's 69 (lmao nice) and the fact that this is 5000 day's worth of pristine quality art pieces you wouldn't get elsewhere but from Beeple. It inspires me to become an NFT artist really as I have a few artworks on canvas and on paper too that I can scan and then sell on the blockchain.

You might want to go on that route, now that NFTs are booming, I think that getting in early is a good thing. Hopefully, you are going to pursue that idea of making Crypto Artworks and not just a talk in this forum. 69 million USD artwork is a lot of money and I think that it is a justly paid artwork because of the time that was spent on making all those artworks.

[JohnBitCo]

If money laundering was not an issue, many people would admire such great work from both artists and the NFT. However, it is hard to believe such artwork worth so much money like that. There is no point wasting their money unless buyer is absolutely a crypto enthusiast

Anyway, congrats to the man for having pieces of art that create impact on the digital world

The concept of NFT is gaining hype and the artists can take full benefit of this situation. they can create and sell their NFT paintings and get good reward for them. NFT is the best decentralized platform to buy/sell unique artworks through crypto currencies.

[TheNineClub]

There is a great short documentary on YT (Cold Fusion channel) discussing this topic https://www.youtube.com/watch?v=x3nmAX3gAlw . I am not even going to try to understand this trend because I would have to have that kind of spending money to even comprehend, but one YT comment summed it best 'When money is worthless things that are worthless takes its place!'