Alexandre Arnault, the 29-year-old son of Bernard Arnault, the world’s third-richest man (net worth of $170 billion), signed on to OpenSea on a Tuesday in early February. He bid $3,100 for HypeBear #9021, an NFT.
Buyers were bidding on it Tuesday during a period known as the “pre-reveal,” when no one is supposed to know what particular bears look like or which have the rarest features.
Arnault was so desperate to receive HypeBear #9021 that he bid 32 percent more than other unreleased HypeBears on the same day, and got it handily. He repeated the process for HypeBear #7777, bidding 58 percent more than the current amount, and made identical proposals for seven additional digital bears.