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

This picture taken on April 7, 2021 shows blockchain entrepreneur Vignesh Sundaresan, also known by his pseudonym MetaKovan, showing the digital artwork non-fungible token (NFT) "Everydays: The First 5,000 Days" by artist Beeple in his home in Singapore. - Last month the programmer bought the world's most expensive NFT for $69.3 million, highlighting how virtual work is establishing itself as a new creative genre. - AFP

WHAT do you do with a US$69mil (RM284.9mil) artwork that doesn’t physically exist?

That’s 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 Christie’s.