Vignesh Sundaresan, popularly known as MetKovan, had spent $ 69.3 million (about ₹520 crore) Beeple non-fungible token (NFT) earlier this year. Rather than looking for a return on their investment, the serial entrepreneur would be happy if everyone downloaded their NFT for free.
Sundaresan’s massive price for “Every Day – First 5000 Days” had drawn attention to the NFT market, which has now become immensely popular. The reason behind his desire to let everyone have it for free is what he describes as the “beauty of NFT.”
NFT has become the talk of the town for the potential of technology, with celebrities cashing in on the nascent market. However, there are concerns about trading scandals, valuations, and what NFT buyers get for their purchase.
Speaking to Bloomberg, Sundaresan said: “At the end of the day, the information wants to be free. You try to have paywalls, you try to do so many things. But even those methods of having information or data inside walled gardens of any kind of security have not worked very well on the Internet. “
“What the NFTs do, instead of giving importance to that copy of the file, it gives importance to something bigger. The idea that someone supported an artist at some point and this was the memory, “he added.
Sundaresan suggested that not everyone should pay for an NFT, but only a select few. Those who pay for production can get credit for being part of the production.
During his interview, Sundaresan said that he is not personally involved with big-name series like CryptoPunks or Bored Ape Yacht Club. He said he doesn’t want to be a part of something very exclusive and instead create something very inclusive.
“I want to discover other ways to scale the number of connections we have on the Internet. These projects will have to figure out why they are limited to so many numbers and what effect that will have on what they can do in the world, “Sundaresan said.
Speaking of his favorite chips, Sundaresan said: “Today the most exciting area for me is the parachutes, which are part of Polkadot. Polkadot is just a skeleton and there can be so many chains that stick to the skeleton and can scale on their own. “
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