This week’s featured collector is Kamataris
Kamataris has a beautiful collection of nature art and mythic symbolism. Browse it at lazy.com/kamataris
If your NFT collector persona were a flower… 🌸
Last week’s poll asked our readers to imagine their NFT collector persona as a flower, and the results say a lot about where the community’s collective head is at. The overwhelming majority—67%—chose “Glitch Orchid: slightly broken,” embracing a vibe that’s resilient, a little offbeat, and willing to find beauty in imperfection after surviving the rollercoaster of NFT markets. Meanwhile, 33% saw themselves as the “Mythic Lotus: 1/1, never for sale,” signaling a mindset focused on rarity, long-term holding, and a touch of legendary status. It seems this season’s collectors are less interested in nostalgia, FOMO, or adaptability, and more invested in authenticity and the unique charm that comes with a bit of digital patina.
The Prank Heard ‘Round the Blockchain
Beeple’s Nakamigos Prank: Satire or Market Manipulation? The NFT Community Debates
On August 10, the NFT world witnessed a masterclass in digital performance art—or, depending on your viewpoint, a troubling example of influential overreach. Beeple, the notorious provocateur and one of the space’s most recognizable artists, dropped what many are calling his most controversial stunt yet. In a staged video, he implied that the Nakamigos NFT collection was secretly connected to the legendary Larva Labs, creators of CryptoPunks. For a few chaotic hours, Nakamigos became the most talked-about project in the space. The floor price pumped 140% before cooling off at a still-lofty 25% gain.
What followed? A furious debate about the boundaries between satire, hype, and market manipulation—an argument only the NFT space could have at this scale and speed.
How the Hoax Unfolded
Beeple’s event in South Carolina was already buzzing with CryptoPunks fans. Attendees were treated to a “history lesson” video featuring (fake) endorsements from Matt Hall and John Watkinson—yes, the Larva Labs duo—claiming a secret link between CryptoPunks and Nakamigos. Flyers at the venue and viral social posts drove the narrative further.
The market responded with the reflexes of a startled cat: Nakamigos’ floor price rocketed, traders aped in, Twitter/X exploded, and rumor gave way to frenzied FOMO.
But as quickly as it began, the truth came out: it was all an elaborate joke. The video was AI-generated. No press releases, no proof, no partnership. Just pure, unfiltered Beeple—trolling, commenting, and, in the eyes of some, crossing a serious line.
Community Reactions: Divided and Devoted
The response was immediate and intense. Supporters hailed the stunt as a brilliant piece of social commentary—a lampooning of an industry often driven by rumors, lore, and speculation more than substance. After all, how many times have collectors rushed into a project on little more than Discord whispers and Twitter threads?
On the other hand, critics—led vocally by Red Beard Ventures founder Drew Austin—accused Beeple of leveraging his influence irresponsibly. “Beeple putting projects in his art and creating speculative hype is one thing. Outright lying to influence buyers, with his influence, is just a weird, not cool move,” Austin tweeted. For him and many others, the line between playful satire and outright manipulation had been crossed. There were real financial consequences for those who FOMO’d in.
Beeple Doubles Down
Beeple’s response? Another video—this time a tongue-in-cheek “apology” explaining why the hoax was obviously a joke: no press release, announced by AI, no evidence. He ended with an offer for a “free NFT” for those “affected by this horrible situation”—directing users to a fake website (whose name we’ll spare for decency).
If you’re reading this, you probably saw the joke, saw through the joke, or maybe, just maybe, bought a Nakamigos on the hope it wasn’t a joke.
What Does It Mean for Collectors?
For experienced collectors, this is more than just Beeple being Beeple. It’s a wake-up call: Influence in the NFT space is powerful—and risky. Projects live and die on the strength of narrative, and those with the loudest voices can move markets, sometimes with nothing more than a well-timed meme.
If you’ve been here long, you know this isn’t the first or last time hype will trump fundamentals. But the ethical stakes are rising. At what point does performance art tip into manipulation? Do we need stronger norms—or even rules—about what constitutes acceptable behavior for NFT influencers?
The Takeaway: Stay Skeptical, Stay Savvy
Beeple’s prank will be debated for months, maybe years. Whether you see it as performance art or market mischief, the lesson is clear: in the NFT space, skepticism isn’t just healthy—it’s necessary. Double-check your sources, follow the evidence, and never, ever let FOMO be your only reason to buy.
After all, in a world where even the wildest rumors can spark a floor price frenzy, only the most discerning collectors will thrive.
Beeple’s Nakamigos Prank: Satire or Market Manipulation?
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