I don't understand how Metakovan has $69mm, like the accounting doesnt match up.
Metakovan buys to lets the B20 digital fund own art assets. The B20 fund only collected like $3mm dollars and the rest is just a floated marketcap of B20 tokens.
So is Metakovan just going to pay for the art piece personally and just arbitrarily transfer the piece to the B20 address? Like basically B20 itself cannot pay for it, and the auction house isn't accepting B20 tokens.
Its cool Metakovan has so much money. There have been plenty of opportunity over the last few months to turn $3mm into $100mm, let alone over the last decade in crypto. So it isnt outside the realm of possibility that he has that much.
But if he doesnt pay, does Justin Sun get to complete the purchase and get it?
I don't know much about Metakovan's allegations of wrongdoing; but even without looking at these, it's fair to say that there are several individuals who, by just being early in crypto, have amassed the equivalent of tens, or hundreds of millions of US dollars.
It wouldn't surprise me too much if Metakovan has a net worth of hundreds of millions of dollars, and therefore can afford to spend $70M in buying this NFT.
There are many more people who made hundreds of millions without being early in crypto.
Just over the last three months there have been hundreds of 50x gains. That’s $1,000,000 being a liquid $50,000,000.
Going through the known history of Metakovan’s businesses in the crypto space are a complete red herring to that article. Everyone that has any experience and clout in crypto would have been involved in some service that didn't do well for everyone.
Metakovan buys to lets the B20 digital fund own art assets. The B20 fund only collected like $3mm dollars and the rest is just a floated marketcap of B20 tokens.
So is Metakovan just going to pay for the art piece personally and just arbitrarily transfer the piece to the B20 address? Like basically B20 itself cannot pay for it, and the auction house isn't accepting B20 tokens.
Its cool Metakovan has so much money. There have been plenty of opportunity over the last few months to turn $3mm into $100mm, let alone over the last decade in crypto. So it isnt outside the realm of possibility that he has that much.
But if he doesnt pay, does Justin Sun get to complete the purchase and get it?