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It's a bit much to say someone who owns some B20 tokens is a "business partner" of MetaKovan's. Are all the token holders "business partners"? Obviously not.
by TigeriusKirk 6y ago
It's a bit much to say someone who owns some B20 tokens is a "business partner" of MetaKovan's. Are all the token holders "business partners"? Obviously not.
It's enough to point out that MetaKovan has a financial interest in increasing the value of Beeple's art. That alone lessens the impact of this auction, and I'm a NFT booster.
Using auctions to increase the value of your holdings is one of the questionable things that happen in the high end art world. Check out the Mugrabi family Warhol collection sometime.
- tlb 6y agoEvery art buyer has a financial interest in increasing the value of the art they've bought. One reason that Christies can charge substantial fees is that it serves as a guarantee that the transaction is somewhat real. If an artwork changed hands privately between friends for $1M, there'd be no reason to believe that price. But when they're paying a 15%+ fee to an auction house, there must be something valuable.
- TigeriusKirk 6y agoPrivate sales affect market values all the time.