Who is buying NFT?

Written by Ms. Florence Ip

A group of crypto enthusiasts, who get rich from cryptocurrencies, is interested in NFTs nowadays. They sell their cryptocurrencies to buy NFTs. They consider buying cryptocurrency as a kind of speculation, but they consider buying NFT is same as collecting art pieces. For NFT investors, digital art minted as an NFT is same as physical oil printing. Traditional art collectors will hang the painting on a wall. Similarly, NFT holder will show the digital art on an LED monitor. Furthermore, they feel themselves more superior, because they are supporting their favourite artists financially.

Who spent the most on digital art?

The most expensive digital art, Everydays: The First 5000 days created by Beeple, was bought by the founder of the world’s largest NFT fund, Metapurse. Metakovan, the pseudonym of the buyer, paid 42,329.453 ETH to settle the transaction and said in a statement released by Christie’s.
“When you think of high valued NFTs, this one is going to be pretty hard to beat. And here’s why — it represents 13 years of everyday work. Techniques are replicable and skill is surpassable, but the only thing you can’t hack digitally is time. This is the crown jewel, the most valuable piece of art for this generation. It is worth USD 1billion.”

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