Yuga Labs co-founder Wylie Aronow has embarked on a massive NFT buying spree over the past few days, spending over $1.5 million acquiring rare digital collectibles. This surge in purchasing comes on the heels of Aronow taking a leave of absence from the Bored Ape Yacht Club creator earlier this year, citing health issues.
Aronow, also known by his pseudonym Gordon Goner, explained that while at Yuga Labs he felt an obligation to restrict his NFT purchases to only those created by the company. But now, no longer with Yuga, he is free to acquire sought-after NFTs from other top collections across the web3 space.
Kicking things off on Monday, Aronow bought a rare CryptoPunk NFT for a whopping 600 Ether, valued at $1.14 million at the time. But he didn’t stop there. Over the next few days, Aronow went on a buying bonanza, scooping up over a dozen additional high-profile NFTs from collections like Doodles, Meebits, Pudgy Penguins, and renowned digital artist Beeple.
This aggressive NFT shopping spree is seen as an attempt to jumpstart a struggling NFT market after a prolonged downturn. Analysts note it is reminiscent of what celebrities and influencers did during the peak NFT mania last year, inducing FOMO and trading frenzy. While October saw an uptick in sales, the NFT market remains depressed overall, with industry leaders like Yuga Labs and OpenSea conducting layoffs. Aronow appears to be single-handedly trying to revive interest and volumes by example. Only time will tell if his $1.5 million spending stimulates a wider resurgence.
