Despite the recent a jump in NFT sales, The market is still considered almost dead since 2022. The second manifestation of activity this year was the acquisition of more than 5 thousand NFTs from Yuga Labs by billionaire Adam Weitsman in a direct OTC transaction to support the Otherside meta-universe.
“I am making a long-term investment in Otherside and am purchasing over 5,000 Otherdeeds, Mega Kodas and Weapon Kodas directly from Yuga Labs to continue to expand my collection. I have also committed to making a series of open market acquisitions this year,” said Weitsman Recycling, CEO of Upstate Shredding – Weitsman Recycling.
Weitsman wants to support Yuga Labs’ metaverse project called Otherside after the NFT market collapse. The entrepreneur pledged to make additional acquisitions on the open market during 2025.
Weitsman is also known for purchasing Yuga Labs’ Golden Key Sewer Pass for 1,000 ETH, which was valued at about $1.6 million at the time of the sale on February 27, 2023.
The NFTs acquired by the billionaire account for almost half of Yuga Labs’ own reserves. In 2023-2024, Yuga Labs sold key intellectual property, including the CryptoPunks and Moonbirds NFT collections, to other organizations.
Source: Adam Weitsman
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