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The ‘metaverse’ bet: crypto-rich investors snap up virtual real estate – Reuters

What do you do with a $69 million artwork that doesn’t physically exist?

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What do you do with a $69 million artwork that doesnt physically exist?
Thats the question faced by the Singapore-based investor calling himself Metakovan, who made headlines last month when he bought the digital artwork Everydays: The First 5000 Days by the American artist Beeple at Christies.
The work is a non-fungible token (NFT) a new type of virtual asset that has its ownership status and authenticity verified by blockchain. NFTs have exploded in popularity in 2021, with prices skyrocketing.

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