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BAYC Co-Founder Gordon Goner goes on a $2M+ NFT spending spree

BAYC Yuga Labs co-founder Wylie Aronow, also known as Gordon Goner, has taken a proactive approach to revitalize the struggling NFT market. In a bold move, Aronow announced on Monday via social media his intention to acquire NFTs outside the Bored Ape Yacht Club (BAYC) collection, a project created by Yuga Labs. This declaration marked
Yuga Labs co-founder Wylie Aronow, also known as Gordon Goner, has taken a proactive approach to revitalize the struggling NFT market. In a bold move, Aronow announced on Monday via social media his intention to acquire NFTs outside the Bored Ape Yacht Club (BAYC) collection, a project created by Yuga Labs. This declaration marked the beginning of an extraordinary spending spree on non-fungible tokens, culminating in a total expenditure exceeding $2 millions.

Aronow diversified his acquisitions by delving into various well-known collections beyond the Yuga Labs ecosystem. Notable purchases included a rare CryptoPunk for 600 ether ($1.14 million) on Monday, followed by acquisitions from collections such as Doodles, Meebits, zombie CryptoPunk, a Cryptoadz, Deadfellaz, AdamBombSquad, Cool Cats, Azuki, CloneX, World of Women, Mocaverse, Pudgy Penguins, and pieces from the renowned digital artist Beeple and more.

Addressing his sizable online following of over 155,000 on Monday, Aronow reassured BAYC enthusiasts, stating:

“Going to grab some non-BAYC NFTs this week. Don’t freak out. I’m still ape papi and I love you very much.”

Later in the week, he elaborated on his motivations, expressing a desire to engage with more communities within the web3 space. Aronow had previously taken a leave of absence from Yuga Labs earlier in the year due to health reasons.

The unexpected surge in NFT acquisitions by Aronow is seen as a strategic move to inject momentum, volume, and traders into the market. This approach mirrors the tactics employed by celebrities and influential figures during the peak of NFT popularity to induce FOMO (fear of missing out).

The Block Research Analyst Brad Kay remarked:

“It’s definitely out of the ordinary. Not every day someone buys $1.5 million worth of NFTs across many collections.”

Aronow’s buying spree comes on the heels of a relatively positive month for the NFT market, with October witnessing a more than 20% increase in NFT volumes, according to data from The Block Research. However, the sector continues to grapple with a broader downturn, leading to staff layoffs at both Yuga Labs and the prominent NFT marketplace, OpenSea.

Wasif Shakir

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