Summary:
Even with significant market declines, businessman and investor Adam Weitsman remains a primary buyer of NFTs.
He recently purchased 229 Meebits, and just before that, he had bought 5,000 NFT assets from the Otherside metaverse game.
He also acquired the intellectual property rights for the CryptoDickbutts and HV-MTL NFT projects this year, driving the redevelopment of both projects.
Since the bull market of 2021-22, the NFT market has significantly declined, but at least one billionaire collector is still heavily investing in the field.
In this year's largest private NFT transaction, businessman and collector Adam Weitsman acquired 229 Meebits NFTs in a single off-market transaction, marking the largest known single transaction for this collection—Meebits was launched by CryptoPunks creator Larva Labs in 2021.
Even as the market continues to cool, Weitsman is still doubling down in the realm of digital art and culture.
"I’ve always liked Meebits," Weitsman said in an interview with Decrypt. "In fact, it was these that first brought me into the Web3 space, and this acquisition is my way of expressing confidence in the team."
He added that the timing of the transaction itself sends an important signal.
"I tend to take action when the market is filled with negative sentiment," he said, noting that the Meebits acquisition was completed on what he called "one of the bleakest days in the market"—when cryptocurrency and NFT prices were plummeting across the board.
Weitsman also expressed recognition of Meebits CEO Sergio Silva, whose company MeebCo acquired the IP from Yuga Labs earlier this year.
"Sergio is one of the most reliable people," Weitsman said. "Whether as a partner or a friend, I have complete confidence in him."
In this transaction, the seller was represented by Charles Katz and Noah Davis of Fountain Digital, while MeebCo CEO Sergio represented Weitsman, and the transaction price has not been disclosed.
"Adam's ongoing support for Meebits makes us feel honored, and we’re glad he can join the community," Silva told Decrypt. "His philosophy of NFT collecting is refreshing and reminds us of the original intent of entering this space: to make friends, build a community, and support creators we trust."
Unlike many traders in the NFT space, Weitsman's motivation is not to buy low and sell high or to profit; he has never sold any NFTs in his life and states that he does not endorse selling, nor will he sell in the future.
"I collect NFTs because I love these artworks, the creators behind them, and the history being written," he said. "For me, it’s about legacy, not making money."
The acquired collection includes several highly scarce Meebits, such as the skull series #16803, of which only 57 were issued, the elephant #367 wearing a skull T-shirt, and the human #7063 dressed in an ultra-rare punk T-shirt.
Weitsman's confidence in the Web3 space is deeply rooted, and as a key supporter of Yuga Labs, he has recently significantly expanded his asset portfolio in the metaverse game Otherside, acquiring 5000 plots of Otherdeed land, giant Koda, and weapon Koda, showcasing his strong belief in the future of the Bored Ape-themed metaverse game, with all these assets directly acquired from Yuga Labs.
"I also promise to conduct a series of acquisitions in the public market this year," Weitsman stated on the X platform after acquiring Otherside assets. "This project is significant for the entire industry, and I will do my utmost to help it succeed for everyone."
Earlier this year, Weitsman also caused a stir in the industry when he collaborated with PenusDAO to acquire the intellectual property rights of CryptoDickbutts, facilitated by Eli Scheinman, known for facilitating high-end NFT acquisition transactions. Additionally, he acquired the HV-MTL NFT project from Faraway Games, which was originally created by Yuga Labs and later acquired by Faraway Games.
Although the NFT market boom from a few years ago has faded, with fewer high-priced transactions and a significant drop in overall trading volume, collectors are still actively buying, selling, and utilizing their assets, building communities around artworks and avatars, and developing products, unaffected by market fluctuations.
"I believe that those who have persevered to this day—artists, collectors, entrepreneurs—are the core that sustains the vitality of this field," Weitsman said. "This ecosystem is built on creativity and community, which is what I want to protect."
Meebits, launched by the creators of CryptoPunks and Autoglyphs, Larva Labs, in 2021, consists of 20,000 unique tokenized 3D pixel characters designed for metaverse scenarios, and now, under the leadership of MeebCo, the series is being reimagined through narrative creation, artistic upgrades, and real-world collaborations.
Despite the harsh market environment, Weitsman remains one of the few well-known collectors actively acquiring, and his collecting philosophy has always been based on steadfast belief rather than market trends.
"Everyone I’ve met in this field is very positive," he said. "I hope to continue to contribute to this positive atmosphere."
Extended reading: A conversation with Adam Weitsman
#Meebits #Otherside #YugaLabs #MeebCo
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