It's already 2025—this billionaire collector is still buying NFTs?

By: Erika Lee

Translated by: Chopper, Foresight News

TL;DR

• Despite a sharp market downturn, entrepreneur and investor Adam Weitsman remains a major buyer of NFTs.

• He recently acquired 229 Meebits, shortly after purchasing 5,000 NFT assets from the Otherside metaverse game.

• He also acquired the intellectual property rights of the CryptoDickbutts and HV-MTL NFT projects this year, driving their relaunch.

The NFT market has declined significantly since the 2021-22 bull run, but at least one billionaire collector continues to invest heavily in the space.

In one of the largest private NFT transactions of the year, entrepreneur and collector Adam Weitsman acquired 229 Meebits NFTs in a single over-the-counter deal. This marks the largest known individual transaction for the collection—Meebits was launched in 2021 by Larva Labs, the creators of CryptoPunks.

Even as the market continues to cool, Weitsman is doubling down on digital art and culture.

"I've always loved Meebits," Weitsman told Decrypt. "In fact, they were what first introduced me to Web3. This acquisition is my way of showing confidence in the team."

He added that the timing of the purchase itself sends an important message.

"I tend to act when the market is filled with negativity," he said. The Meebits acquisition was completed on what he described as "one of the market's darkest days"—when cryptocurrency and NFT prices were broadly falling.

Weitsman also expressed strong support for Meebits CEO Sergio Silva, whose company MeebCo acquired the IP from Yuga Labs earlier this year.

"Sergio is one of the most trustworthy people out there," Weitsman said. "I have full confidence in him, both as a partner and a friend."

In the transaction, the sellers were represented by Charles Katz and Noah Davis of Fountain Digital, while MeebCo CEO Sergio represented Weitsman. The price was not disclosed.

"We're honored by Adam’s continued support of Meebits and thrilled to welcome him into the community," Silva told Decrypt. "His approach to collecting NFTs is refreshing and reminds us why we entered this space in the first place: to make friends, build communities, and support creators we believe in."

Unlike many traders in the NFT space, Weitsman’s motivation isn’t buying low and selling high for profit. He has never sold a single NFT in his life and says he fundamentally disagrees with selling, stating he never will.

"I collect NFTs because I love the artwork, the creators behind them, and the history being written," he said. "To me, it's about legacy, not making money."

The collection includes several highly rare Meebits, such as the Skull series #16803 (only 57 minted), Elephant #367 wearing a Skull T-shirt, and Human #7063 wearing an ultra-rare Punk T-shirt.

Weitsman’s conviction in the Web3 space runs deep. As a key supporter of Yuga Labs, he recently expanded his holdings in the metaverse game Otherside by acquiring 5,000 Otherdeed lands, Giant Kodas, and Weapon Kodas—demonstrating strong confidence in the future of the Bored Ape-themed metaverse game. These assets were acquired directly from Yuga Labs.

"I’ve also committed to a series of acquisitions on the open market this year," Weitsman posted on X following the Otherside asset purchase. "This project matters greatly to the entire industry, and I’ll do everything I can to help ensure its success for everyone."

Earlier this year, Weitsman made waves in the industry by partnering with PenusDAO—facilitated by Eli Scheinman, known for brokering high-end NFT deals—to acquire the intellectual property of CryptoDickbutts. Additionally, he acquired the HV-MTL NFT project from Faraway Games. The project was originally created by Yuga Labs before being acquired by Faraway Games.

While the NFT market frenzy of a few years ago has faded, with fewer headline-grabbing deals and significantly lower overall trading volume, collectors continue to buy, sell, and leverage their assets—building communities and developing products around artworks and avatars regardless of market sentiment.

"I think those who have stayed through this—artists, collectors, entrepreneurs—are the core keeping this space alive," Weitsman said. "This ecosystem is built on creativity and community, and that’s exactly what I want to protect."

Meebits, launched in 2021 by Larva Labs—the creators of CryptoPunks and Autoglyphs—consists of 20,000 unique tokenized 3D voxel characters designed specifically for metaverse use. Now under MeebCo’s leadership, the collection is being revitalized through storytelling, artistic upgrades, and real-world collaborations.

Despite harsh market conditions, Weitsman remains one of the few prominent collectors still actively acquiring NFTs, guided consistently by belief rather than market trends.

"Everyone I’ve met in this space has been incredibly positive," he said. "I hope to keep contributing to that positive energy."