Nothing to see here
> What’s interesting is that Beeple, the creator of the artwork, is actually a business partner of MetaKovan’s. He owns 2% of all the B20 tokens. I’m sure there is no conflict of interest here
> What’s interesting is that Beeple, the creator of the artwork, is actually a business partner of MetaKovan’s. He owns 2% of all the B20 tokens. I’m sure there is no conflict of interest here
So really this is just adding crypto to the mix, because "everything's a little bit better when you sprinkle crypto on it"
[1] https://www.cnn.com/2020/07/29/business/art-money-laundering...
But of course, without any governance or rights.
B20 tokens launched on January 23rd. Beeple has been on Clubhouse and other NFT spaces for months. It is common in the crypto space (and everywhere) to give an influencer an "advisor" share of the project.
Their pie-chart says 11% of the tokens are to collaborators. So really its 13% but Beeple is the influencer that is worth having his own separate piece of the pie, for advertising.
"You know its legit because Beeple is involved", and its working because now I know to bet on winners!
This token is up 2,000% in a month and a half, and I didn't know about it before and have been searching for the right way to get exposure to the NFT space, and these are the winners! They got Christie's involved and the whole world!
I'm absolutely going to try to partner with them as I have more clout in the crypto space.
The real discussion is on whether there could be a more community oriented token distribution schedule, or a similar project without the massive team/advisor share. So there is a market to compete in this regard.
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.
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.