It seems to be like Yuga Labs co-founder Wylie Aronow has taken it upon himself to try to resuscitate the ailing NFT market.
After taking to X on Monday to tease his intentions of shopping for NFTs that are not a part of the Bored Ape Yacht Membership assortment created by Yuga Labs, Aronow, aka Gordon Goner, has gone on maybe one of many wildest non-fungible token spending sprees for the reason that final bull run. After beginning off with the acquisition of a uncommon CryptoPunk on Monday for 600 ether ($1.14 million), Aronow has spent greater than $1.5 million in complete, in accordance with The Block Analysis information.
Greater than a dozen new tokens purchased, Aronow has unfold the love round, shopping for from well-known collections outdoors the Yuga Labs universe, together with NFTs from Doodles, Meebits, Pudgy Penguins and well-known digital artist Beeple.
“Going to seize some non-BAYC NFTs this week. Do not freak out. I am nonetheless ape papi and I really like you very a lot,” Aronow posted to his greater than 155,000 followers on Monday. “In all seriousness, I had all the time needed to hitch extra communities throughout the web3 area however felt I had a accountability to limit myself from doing so whereas nonetheless working at Yuga,” he then posted on Wednesday.
Whereas Aronow co-founded Yuga Labs, simply the highest-profile creator of NFTs, he took a depart of absence earlier this 12 months, citing well being issues.
‘Extra momentum’
“Yuga Labs founder goes on a shopping for spree of standard NFT collections so as to add extra momentum, quantity and merchants to the market, much like what celebrities and large figures used to do when NFTs have been at their peak to induce FOMO,” mentioned The Block Analysis Analyst Brad Kay. “It is positively out of the unusual. Not on a regular basis somebody buys $1.5 million value of NFTs throughout many collections.”
Aronow’s aggressive shopping for follows the NFTs market’s greatest month shortly. In October, NFT volumes rose by greater than 20%, in accordance with The Block Analysis information. However the sector continues to wrestle with a downturn that has compelled each Yuga Labs and {the marketplace} large OpenSea to put off workers.
