Beeple’s NFTs were selling for just 100 USD until October 2020. However, things changed when an Indian entrepreneur, Vignesh Sundaresan, bought his NFT named “Everydays: The first 5000 days” for around 69 million US dollars.
In March of 2021, an NFT by Mike Winkelman usually known as Beeple sold for 69 million USD at an NFT marketplace called Christie’s and now is free to download for everyone.
What is an NFT?
NFT is a unique digital asset that exists only through blockchain. Blockchain act as a ledger for anyone to check the authenticity of the NFT and who owns it.
This means NFT has a unique signature making it one of its kind. However, Vignesh believed that the beauty of NFT comes out only when everyone gets to enjoy it. Thus he allowed everyone to download a copy the NFT for free.
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What is Beeple and why is so valued nowadays?
Beeple is amongst the top three most expensive artwork sold in an auction. Beeple has a huge fan base of approximately 3 million followers on all his social media handles, moreover, is magnificently creative with his project Everydays in its 14th year.
In addition to this, NFT is in the limelight for quite some time now and is believed to be the future of how digital art will be seen and traded. Believing the same notion, Vignesh expressed how he feels he got a steal while talking to New York Times under the name of Metakovan.
Who purchased Beeple, the 69M USD NFT?
Who is Vignesh Sundaresan?
|Birth Place||Chennai, India|
|Qualification||Master of Engineering (Carleton University)|
|Mechanical Engineering (Bits- Pilani)|
|Computer Science (DAV Gill Nagar Chennai)|
|Current Job||CEO at Portkey Technologies|
|Website||bitaccess.co (Company Website)|
|LinkedIn Profile||By the name: –Vignesh Sundaresan|
|Email address||[email protected]|
Vignesh Sundaresan was an immigrant from Chennai for whom society had already planned his life for him. His parents wanted him to have a stable career like his father and for a while, he went by the book and even went to Dubai to study mechanical engineering.
In Dubai, while searching on how to design codes to automate transfers from banks Vignesh came across Bitcoin in 2012. And till the end of the, he had already left his job at a newspaper to launch a crypto exchange called Coins-E which was an online exchange that allowed its customers to buy or sell cryptocurrencies.
While still working on Coins-E, Vignesh started with his master’s in technology innovation from Ottawa’s Carleton University.
Vignesh has been into investing in crypto since 2013 with no money in his pocket. Working in crypto companies gave him an opportunity for early investment. He has invested in not just Bitcoin and Ethereum but also PolkaDot and Flow, however, refuses to tell his worth because it is all on the crypto market.
Why did Vignesh Sundaresan buy Beeple NFT for 69M USD?
With a motto to show Indians and other people of color that they can be a patron too, Vignesh brought the 69 million USD artwork.
He was a stranger until this big purchase which he even blogged about. He believes that NFTs are a part of a new era of technological artwork that the world will buy and sell.
Sundaresan confessed knowing that it will be a competition to win the auction however was very motivated to buy, thus had come with an expectation to pay even more but won at just 69.3 million USD.
He calls Beeple a significant part of art history and can wait until the world recognizes its importance and shift from how it has been perceived for ages.
He believes that the piece will take a life of its own that has the potential to be many more things than just a piece of art. He also hinted to offer or display parts of it in a virtual museum, however, doesn’t plan on selling it.
Thus it can be said that while working in silence, Vignesh Sundaresan became a renowned person in the world of NFTs.