Vignesh Sundaresan, the buyer of the $69 million NFT by the artist Beeple, has no regrets paying the hefty amount, according to CNBC. Sundaresan, also known as MetaKovan, was prepared to bid even higher.
Sundaresan says the bid will be seen by history as the starting point of a new age of digital art and is okay with being part of the important shift.
Sundaresan pointed out that the rise of non-fungible tokens, or NFTs, has ushered a new era where artists and collectors can buy and sell art more easily and democratically worldwide.
NFTS have exploded recently, as NBA video highlights, memes, digital art and even tweets sell for six to seven figures.
Proponents say NFTs will not only change the art world but could be applied to physical goods like homes and property.
Sundaresan has no plans to sell the $69 million Beeple, but will monetize it by either offering pieces of it or displaying in a virtual museum.
Sundaresan has also invested in cryptocurrencies and blockchain network Polka Dot and Flow.
Sales of NFTs have now topped $500 million.
