Owego, New York — In a major move for the NFT ecosystem, scrap-metal magnate Adam Weitsman has acquired over 5,000 NFTs from Yuga Labs in a direct, over-the-counter (OTC) deal valued in the multi-million-dollar range.

🛠️ The Deal & Its Scope

The collection includes a mix of Otherdeeds, Mega Kodas, and Weapon Kodas, signaling a broad strategic investment across Yuga Labs’ flagship digital assets . Weitsman emphasized that this is a deliberate, long‑term commitment to Yuga Labs’ Otherside metaverse, and that he intends to continue making acquisitions on the open market during the year .

💡 Why It Matters

Confidence in Web3 and Otherside: This acquisition comes amid skepticism after token price fluctuations, but Weitsman’s move underscores strong faith in Yuga Labs’ vision.

Institutional-Level Participation: Billionaire-led, large-scale investments may bolster market sentiment and attract additional high-net-worth interest in the space.

🧠 Who Is Adam Weitsman?

Adam Weitsman is the entrepreneur behind Upstate Shredding – Weitsman Recycling, a scrap‑metal empire based in New York . Having made his fortune in industrial recycling, he’s also known for art philanthropy, restaurant ventures, and now blockchain‑based investments. His personal and philanthropic successes have spotlighted him as one of the most visible industrialists in upstate New York .

🔮 What’s Ahead

Market watch: Analysts will be closely monitoring secondary floor prices across Otherdeeds, Mega Kodas, and Weapon Kodas to gauge if this sizeable buy lifts valuations or rotates liquidity.

Further OT C deals? Weitsman hinted this is just the beginning, with more acquisitions expected via open-market purchases .

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Bottom Line

Adam Weitsman's acquisition of over 5,000 NFTs marks one of the largest single-person bets on the Yuga Labs ecosystem to date. With this major OTC move and a clear message of long-term confidence in the world of Otherside, it signals a new headline-making chapter in NFT investing and demonstrates that traditional industrialists are now serious players in Web3.