Billionaire Collector Defies NFT Market Downturn with Major Purchases
While the NFT market has cooled significantly since the 2021-22 bull run, billionaire businessman Adam Weitsman continues to make substantial investments in digital assets. In one of the largest private NFT deals of 2025, Weitsman acquired 229 Meebits in a single over-the-counter transaction, marking the biggest-known purchase from the collection originally launched by CryptoPunks creator Larva Labs.
Strategic NFT Investments and Market Timing
Weitsman’s approach to NFT collecting differs significantly from typical traders. “I’ve always loved Meebits,” Weitsman told Decrypt. “They’re actually the reason I got into Web3 in the first place. This purchase is my way of showing confidence in the team.”
Buying During Market Negativity
The billionaire collector specifically timed his major Meebits purchase during what he described as “one of the reddest days of the market,” when crypto and NFT prices were sliding across the board. “I try to make moves when there’s negativity,” he explained, highlighting his contrarian investment strategy.
Building Relationships in Web3
Weitsman credited Meebits CEO Sergio “Sergito” Silva for influencing his decision. “Sergito is one of the best guys,” Weitsman said. “I believe in him as a person and as a friend.” This emphasis on personal relationships underscores Weitsman’s community-focused approach to Web3 investing.
Long-Term Vision Beyond Profit Motives
Unlike many NFT traders focused on flipping assets for quick profits, Weitsman maintains a fundamentally different philosophy. He has never sold an NFT in his life and says he doesn’t believe in selling—and never will.
Collecting for Legacy, Not Liquidity
“I collect because I love the art, the people, and the history being made,” Weitsman stated. “For me, this is about legacy, not liquidity.” His Meebits haul includes several standout pieces, including #16803, one of just 57 Skeletons ever minted, and #7063, a Human featuring the ultra-rare Punk Tee.
Expanding Web3 Portfolio
Weitsman’s conviction extends beyond Meebits. He recently expanded his holdings with 5,000 Otherdeed land plots from Yuga Labs’ Otherside metaverse game, along with Mega Kodas and Weapon Kodas. “There is a lot riding on this project for the whole space,” he posted on X, “and I will do my best to help make it a success for everyone.”
Acquiring NFT Project Intellectual Property
Earlier this year, Weitsman made waves by taking control of the CryptoDickbutts and HV-MTL NFT project IP in a deal brokered by Eli Scheinman. These acquisitions demonstrate his commitment to driving renewed development around established NFT projects rather than simply collecting digital art.
Sustaining Web3 Through Community and Conviction
Despite the NFT market’s dramatic cooling from its peak, Weitsman believes the core values that built the ecosystem remain vital. “I think the people who are still here—the artists, the collectors, the founders—are the ones keeping the space alive,” he said.
Weitsman’s approach represents a refreshing perspective in an often volatile market. While many investors have retreated during the downturn, his continued investments signal confidence in the long-term value of digital art, community building, and the foundational principles of Web3.
