Farzin Fardin Fard of 3FMusic: The NFT Whale
You haven’t heard of his name but in recent weeks Farzin Fardin Fard has been the source of many of the highest priced NFT sales.
While most people spend their evenings watching TV, spending time with their family, and other basic hobbies, Fard has found a new, ultra-exclusive past-time: buying NFTs on Foundation. This evening, Fard has spent nearly $1 million on two pieces: the Overly Attached Girlfriend meme and two pieces from 4Chan meme.
For more than a week now I’ve been reaching out to Fard but my emails and messages have gone unanswered. I’m sure he has been bombarded by journalists ever since his purchase of an article from The New York Times for just over $700,000.
The eye-popping NFT purchases that have fueled a speculative boom in the digital art world are hard to ignore. Collectors like Fard are to thank for the continued mass attention on NFT world. It also results in creators like Laina Morris posting tweets like the following one:
So who is Farzin Fardin Fard? From public information, especially his Instagram profile, he appears to be the owner of a music studio based in Dubai. Outside of that, one can only speculate.
In a statement to the New York Times, it appeared that a broader management team has been involved in the decision to acquire the pieces.
Our management team is always in cooperation with some highly knowledgeable and experienced art advisers who believe that we must grow with technological movements that help us to not only promote our business but also to support artists and the art market.
The real question that many are having is whether or not these sky-high acquisitions are temporary or lasting. With a global art market that was over $64 billion in 2019, it seems like NFT sales are actually not completely unreasonable currently hovering at around a $3.6 billion annual run rate (depending on where you look).
While Farzin Fardin Fard was not available comment, it does not appear that his NFT art collection hobby is slowing anytime soon.