Billionaire Adam Weitsman acquired more than 5,000 NFTs directly from Yuga Labs on Monday.
The purchase includes Otherdeeds, Mega Kodas, and Weapon Kodas from the struggling Web3 studio.
Weitsman aims to support Yuga Labs’ metaverse project, Otherside, amid collapsed NFT markets.
The entrepreneur committed to additional open market acquisitions throughout 2025.
Otherside Otherdeed floor prices currently sit at around 640 dollars, according to OpenSea data.
This marks a dramatic decline from the project’s 317 million dollar launch in May 2022.
Yuga Labs recently sold prime assets like Moonbirds and CryptoPunks due to market pressures.
NFT trading volumes for top collections dropped 95% as the metaverse sector lost momentum.
Source: https://coinmarketcap.com/
