He suggested that mounting institutional confidence could trigger a market breakout, saying investors should be proactive.
According to him:
“Buy first, ask questions later.”
He reasoned that Ethereum holders will likely channel their profits into NFTs as status symbols, reflecting broader societal behaviors around wealth and prestige.
“[NFTs are] an internet status game. The whole world economy outside of food and energy production is a giant status game, why would the internet society be any different?”
CryptoPunks, launched in 2017 as one of the first NFT projects on Ethereum, have gained legendary status in the digital art world.
At the peak of the market in 2021, the collection’s floor price was worth an average of 125 ETH, but its value fell significantly during the market winter to a low of 21 ETH.
However, with the NFT space enjoying some form of renaissance lately, CryptoPunks’ value has surged in the past week by over 20% to 48 ETH, which equates to $177,000.
