Beeple’s NFT Stunt Causes 25% Surge in Nakamigos — Troll or Market Play?

Digital art superstar Beeple has staged a controversial event in the NFT (non-fungible token) market, stirring mixed emotions. Weeks after the excitement around Ethereum’s NFT Torch had settled, Beeple is once again fueling hype in the digital collectibles sector.

Beeple’s Most Controversial NFT Stunt of the Year

The event, held at Beeple Studios in Charleston, South Carolina, was intended to celebrate the iconic CryptoPunks NFT collection. However, it quickly became one of the most-talked-about moments on NFT Twitter this week.

During the gathering, Beeple presented what appeared to be a recorded interview with CryptoPunks creators Matt Hall and John Watkinson. In the video, they claimed that Nakamigos NFTs predated CryptoPunks and were a secret Larva Labs project. The duo dramatically counted down to the supposed reveal of “V0 Punks,” directly linking the fictional backstory to Nakamigos. Brochures distributed at the event reinforced this playful claim, further stoking speculation.

Within hours, the floor price of Nakamigos, a popular NFT collection known for its meme-like community, surged by almost 140%, triggering a flurry of trading activity. For Nakamigos NFT holders, the sudden increase in value was a welcome, albeit short-lived, surprise. As of this writing, Nakamigos NFTs are trading at 0.23 ETH, a 25% increase. However, the video was quickly identified as satire and reportedly created using AI. The entire “V0 Punks” story was also revealed to be fictional.

CryptoPunks were launched in 2017, and there is no evidence of a pre-existing Nakamigos link or Larva Labs involvement.

Meanwhile, reactions within the NFT community were mixed. Some traders viewed the move as a clever troll that brought much-needed levity to a sector often bogged down by market drama. “People are genuinely angry at Beeple for this blatant troll. I think it’s about time we make NFTs fun again. If you lost money on this trade, it’s your own fault for not realizing Beeple is an epic troll,” wrote Beanie, a well-known NFT personality.

Others argued that the stunt blurred the line between performance art and market manipulation, noting that Beeple boosted trading activity despite knowing the claim was false. “I agree. He is super involved in nakamigos,” wrote LaMiss.eth on Twitter.

While Beeple has not directly responded to the controversy, the incident once again demonstrates his ability to capture attention and move markets with a single creative act. Whether viewed as a satirical performance piece or a calculated market move, the stunt reflects the volatility and theatricality that define NFT culture.

This event also serves to further amplify the recent craze surrounding NFTs, which was reignited by Ethereum’s 10th anniversary. While excitement around the Ethereum NFT Torch has waned, Beeple’s latest spectacle has helped to re-energize the sector.

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