Billionaire entrepreneur and collector Adam Weitsman has emerged as a major patron of the Web3 ecosystem, making significant acquisitions across premier collections including Mutant Ape Yacht Club, Meebits, and Moonbirds over the past year.

Yet his most recent deal holds special significance — it’s not only among his largest investments but has captured his heart as his personal favorite.

“My heart’s in this one,” Weitsman tells Now Media, distinguishing it from his traditional business ventures. “I’m in the steel business. That’s not the most glamorous, sexy business. It pays the bills, and I’m very blessed. But this is an adventure.”

Now Media can exclusively reveal that Weitsman is acquiring more than 5,000 Otherdeeds in a landmark deal with Yuga Labs. While terms of the acquisition have not been disclosed, it involves a “multimillion dollar commitment” from Weitsman.

At the time of publication, the Otherdeed floor price sat at 0.175 ETH ($638). However, rare plots with coveted resources and unique artifacts have sold for far higher, including a 200 ETH ($767K) sale last week.

Weitsman has committed not to sell his Otherdeeds for multiple years. As part of the deal, 5,000 Otherdeeds from the Yuga treasury will be included in the acquisition, with an undisclosed amount of additional purchases to be made on the open market over the next year. All acquired assets will be locked from resale.

“As part of the contract, I can’t sell,” he explains. “I felt that would help with liquidity for other people, because they know that the biggest question is, ‘Are these going to come on the market?’ I want to stabilize that.”

Adam Weitsman’s Mega Koda and Otherdeeds. Credit: Courtesy of Yuga Labs

The deal’s final stage required a sprint of negotiations by Eli Scheinman. “Just when we were about to finish it, we went about 72 hours straight. Just going back and forth,” Weitsman recalls.

“This deal came together because of a shared vision for a long-term partnership from both sides,” Scheinman says. “The acquisition furthers Adam’s commitment to the web3 and digital art movements, and I’m excited about his plans to contribute to the Otherside ecosystem for many years to come. This is a great day for Otherside holders, Yuga and Adam alike.”

“Adam has always been a big supporter of Web3 and Yuga,” Figge, Yuga’s Chief Product Officer, says. “He’s one of the most impactful people in our space, and we’re honored to have him support the ecosystem. Momentum is shifting on Otherside with the release of Bubbles, Bathroom Blitz, and this month’s release of Otherside Outbreak. He’s doubling down in a big way.”

Why Otherside? For Weitsman, the appeal is a combination of aesthetics, lore, and belief in the Yuga team. “I love the look, the plants, resources, and artifacts. I’m really drawn to that,” he shares. “I love mythology. I just feel that this could be the greatest story.” Through friendship with Yuga co-founder Greg “Garga” Solano, Weitsman became immersed in the project’s development. “Whenever we talked, it would be talking about Otherside and building it.”

With a collection that will ultimately hold over 6,500 Otherdeeds, 15 Mega Kodas, and 5 Mega Mutants, Weitsman’s support comes with expectations for Yuga Labs’ execution. He welcomed the team’s recent moves to focus on the core of Bored Ape Yacht Club and Otherside. “I didn’t want to do anything until I had that commitment, that they were gonna see this through,” he states.

The deal also addresses unfinished business from Yuga’s past projects. Weitsman, who bought the winning Dookey Dash key for $1.6 million in 2023 and invested in Faraway — which acquired HV-MTL from Yuga in 2024 — has advocated for HV-MTL’s integration into Otherside. “I would love them to incorporate HV-MTLs in Otherside, and they’ve agreed to,” he says. “I felt they owed that to a lot of people who played and grinded out that game.”

Adam Weitsman with Garga and Eli Scheinman at Beeple’s “Diffuse Control” exhibition. Credit: Courtesy of Adam Weitsman

Inclusivity is a prime driver behind Weitsman’s involvement, and he sees Otherside as a rare project that can bring other communities together at every price point. “A floor deed is what, $500 today? So we could have an amazing canvas for $500.” Figge echoes these sentiments in noting that the latest experiences, like Bubbles, Bathroom Blitz, and Otherside Outbreak, were created by community developers.

“People are starting to understand the potential of Otherside,” Figge says. “It’s not just about what Yuga can make; the real story is about what everyone else can build. Every community can win here.”

During the negotiations, Weitsman recalls Scheinman offering a frank assessment of the stakes even amid the optimism surrounding the deal: “There’s risk in this. You’ve locked yourself out to sell and you’re betting on Yuga to come up with something that they don’t fully have yet.” However, he notes that he has never sold an NFT and has no plans to.

“This space needs a beacon of hope.”
ADAM WEITSMAN

To that end, his vision for the Otherdeeds haul extends far beyond traditional investment metrics, centering on global accessibility and education through children’s charities that he’s involved in. “I’ve got some ideas about kids playing this all over the world,” he explains. “This is a tough world. A place that kids can dream in. They can dream that this is their house and this is their land.”

His plan involves mentorship at scale, with participants potentially benefiting from Otherside’s ApeCoin economy monetization opportunities. “I’d love to be able to have an advisor for every 30 Otherdeeds” who would “teach them how to build. Teach them how to trade. Teach them how to barter.”

A self-described contrarian investor who likes to “buy when it’s not sexy,” the steel magnate acknowledges the challenges facing a battered NFT market in making his most personal gamble yet: “This space needs a beacon of hope.”

For Weitsman, it’s ultimately about industry stewardship and ecosystem health. “I don’t have a financial interest in Yuga, so I can be very objective,” he concludes. “I’m not biased toward the thing. I just want what’s best for the space.”