Singapore-based “technopreneur” Vignesh Sundaresan, who goes by the nickname MetaKovan online, grabbed global attention in March 2021 when he splashed out US$69 million on the non-fungible token (NFT) artwork Everydays: the First 5,000 Days by American digital artist Mike Winkelmann, better known as Beeple.
That record-breaking bid supercharged a speculative frenzy in NFTs. The Indian-born investor later boasted in a TV interview that he was prepared to pay even more, so convinced was he that NFTs were marking a pivotal moment in art history.
More than four years later, much has changed.
