‘Why I spent $111K on a digital F1 Car’ — NFT collector

‘Why I spent $111K on a digital F1 Car’ — NFT collector

A non-fungible token that represented the first digital F1 car created for blockchain game F1 Delta Time sold for $110,000 in May 2019. Just recently, the winner of the auction revealed why he purchased the mysterious NFT.

The 1-1-1 Formula 1 car, which was designed for the official licensed game, was the most expensive NFT ever sold. This one-of-a kind racer was made in partnership with Formula 1 and marked an important digital milestone. The buyer is still anonymous.

The Blockchain Gaming Web podcast revealed details about the buyer. Animoca Brands (the blockchain gaming company that sold the NFT, created Delta Time) revealed that the buyer was the pseudonymous Metakovan.

Metakovan is an Angel Investor

Entrepreneur, reported Ethereum whale and NFT collector. During the interview with podcast host Jon Jordan, the investor revealed that it wasn’t even the most expensive purchase he had made and that he has not taken the digital car out for a spin on the digital track yet. He said that the brand and the auction piqued his interest:

“A branded NFT was one of the first things that caught my eye. But I did not know the company. […] I did see this interesting bidding war developing. […] As I saw the auction I noticed there was something interesting happening here.”

NFTs Appeal

He said that NFTs appeal to him because of the story and uniqueness that it tells.

“I could have bought a real car to do this. That’s what makes great stories, in the end.

You can race NFTs like the gem-encrusted 1-1-1 in the game. To earn native REVV tokens, you can also staked. He explained why NFTs are so important to him in a tweet.

“The growth of art makes it doubly certain that NFTs make the ideal medium for crypto. NFTs are fun because they were and still are so much fun. An Urbit Galaxy, the F1 DeltaTime 111 and estates full to potential in CV or DCL are just a few examples. As an NFT, I was collecting experiences, both fully formed and seeds for future ones.

Yat Siu (co-founder and chairman of Animoca Brands) was thrilled by the news:

“After almost a year and half, we finally know that Metakovan owns the 1-1-1 and couldn’t be happier.”

He said that artists are not the ones who make art famous, but collectors. They make the story more powerful and fascinating.

Ibrahim El-Mouelhy was the designer of the extravagant 1-1-1 race car. He wrote a detailed personal account of the auction, and the subsequent hunt for its owner. The action took place in wETH, which was valued at $272 at that time.

The winning bid of 419.5 ETH was a sign of good fortune, since it equated with $111,111 in that time. Today’s ETH price is $191,200. Metakovan claimed that he selected that price to give an “easter egg” to those who tried to find him, adding to his extraordinary story.

In 2020 , NFT sales soared and this trend doesn’t seem likely to slow down.