Scrap-Metal Billionaire Adam Weitsman Acquires 5,000 NFTs from Yuga Labs in OTC Deal

Adam Weitsman, a billionaire known for his scrap-metal empire, has made a significant foray into the NFT space with a direct purchase of 5,000 assets from Yuga Labs' Otherside collections. The acquisition includes Otherdeeds, Mega Kodas, and Weapon Kodas, sourced through an over-the-counter transaction. Weitsman announced his commitment to further open-market purchases, signaling strong confidence in the Otherside ecosystem.

Yuga Labs co-founders Wylie Aronow and Greg Solano lauded Weitsman's long-term vision, with Solano calling him an ideal partner for the next phase of Otherside's development. The NFTs will be locked for multiple years, aligning with Weitsman's bet on the metaverse's evolution.

The MOVE comes as Yuga Labs shifts focus to Otherside following the sale of intellectual property rights for CryptoPunks and Moonbirds. The NFT and gaming sectors have seen renewed interest in 2025, with high-profile investments underscoring the market's potential.