Source | CoinTelegraph
Winner of landmark auction breaks down his investment thesis on NFTs
Nonfungible tokens are “ten times better than their physical counterparts”, according to digital art collector MetaKovan.
The pseudonymous art patron, who was recently revealed to be blockchain entrepreneur Vingaresh Sundaresan, bought the NFT of Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS” for $69 million dollars earlier this year.
Explaining the motives behind his purchase in an exclusive interview with Cointelegraph, MetaKovan pointed out that NFTs have a number of advantages over traditional artworks: they are easy to transfer, they don’t have any storage costs, and their ownership can be shared.