- Adam Weitsman purchases 5,000 Yuga Labs NFTs.
- Billionaire shows long-term support for Otherside.
- Market sees potential future growth in NFT sector.
Billionaire Adam Weitsman has acquired over 5,000 Yuga Labs NFTs, including assets like Otherdeeds, through an OTC deal, announced via a post on X on August 4, 2025.
Weitsman’s acquisition signifies commitment to Yuga Labs’ Otherside metaverse amid declining NFT volumes, potentially boosting market sentiment and emphasizing long-term development.
Billionaire Adam Weitsman has purchased over 5,000 NFTs from Yuga Labs, including Otherdeeds and Mega Kodas. The acquisition was made through a direct over-the-counter deal.
Weitsman, CEO of Upstate Shredding, made the announcement on X.
This move marks a significant entry into the NFT market by an investor not previously known for such ventures.
Yuga Labs leadership, including co-founders Greg Solano and Wylie Aronow, expressed support. Weitsman’s involvement is seen as a strong endorsement for the Otherside metaverse.
The deal unfolds during a period of declining NFT trading volumes, yet highlights deep-pocketed investment interest. The impact on market sentiment could be substantial.
The transaction involves direct acquisition from Yuga Labs’ assets, indicating a long-term holding strategy by Weitsman.
Industry observers expect potential positive outcomes for the NFT market. While immediate price action was limited, historical trends suggest increased interest could boost long-term development and stability in the metaverse sector.
“Today is a special day for me. I’m making a long-term investment in Otherside and acquiring over 5,000 Otherdeeds, Mega Kodas and Weapon Kodas direct from @yugalabs to continue building my collection. I have also committed to making a series of acquisitions on the open market…” – Adam Weitsman, CEO, Upstate Shredding – Weitsman Recycling
