Metakovan is known for buying expensive Ethereum-based NFT collectibles. The NFT industry is gaining more popularity daily as Metakovan, and an NFT enthusiast has reportedly bought some digital artworks from Beeple for a whopping $69 million on Christie’s marketplace–a popular platform for buying and selling NFT collectibles. Christie’s revealed that the NFT enthusiast with the pseudonym, Metakovan, had the highest bid for the most expensive auction in NFT history. As the highest bidder, Metakovan was able to clinch the artwork for $69 million. Earlier, Justin Sun was reported to be the highest bidder and automatic winner but was finally outbid by Metakovan.

The Sale is a Watershed in the NFT Industry

The auction is indeed an incredible feat for the NFT industry–a crypto-based collection of digital artworks that have gained popularity. Recently, famous individuals and celebrities have been associated with the NFT. For example, Kings of Leon earned some millions from its NFT sales. In 2020, Metakovan paid $100,000 for an NFT-based race car video game.

While speaking with journalists, the NFT lover said he believed nothing was too much to pay for a great NFT. He added that he wouldn’t be left behind in bidding for any imaginative and extraordinary NFT that stands out from the crowd. Metakovan, a Singaporean-based NFT investor, has also been pushing for Metapurse, a dedicated NFT fund.

In 2020 that Metakovan purchased the digital racing car, the NFT market had not yet gained wide recognition as it was just a niche in the cryptocurrency industry. But now, the historic purchase of $69 million was on the front pages of major newspapers, including Wall Street Journal. Likewise, Beeple suddenly emerged in 2020 after selling some digital collectibles on the Winklevoss platform, earning up to $3.5 million in the sale. The recent $69 million sale consist of different artworks made by Beeple daily for 5,000 days. Metakovan had earlier revealed to Christie’s that he was worth $1 billion.

How Metakoven outbid justin Sun on Beeple’s Historic NFT Auction

Justice Sun was about to clinch the Beeple’s NFT collection of artworks, but sadly, he was outbid by Metakoven, another NFT fan, Metakoven at $69 million. The collection was titled: the First 5000 Days. The sale has set a record of one of the five top high-priced artworks ever. Metakoven’s bid out ranked Justin’s by just $250,000 in less than a minute. Sun revealed that at the last minute, he decided to raise his bid to $70 million but was unable to win the bid. However, Sun nearly won the auction. He shared the email exchange between him and Christie’s, which displayed another bid that could have made Sun win the NFT collectibles’ auction.

Sadly, Christie’s informed Sun that his bid was unregistered because it failed to register in the bidding network before the closing time. And the auction house later apologized to Sun, who suggested that auction houses should be more transparent and ready to incorporate blockchain tech in their systems. This, according to Sun, will grant bidders equal opportunity and give way to fair play where every bidder sees how transactions are concluded.