Beeple, the digital art heavyweight behind some of the most expensive NFTs ever sold, has once again proven he can make the market move — this time with a prank that split the NFT community between laughter and outrage.
The stunt unfolded at Beeple Studios in Charleston, South Carolina, during what was billed as a celebration of the iconic CryptoPunks collection. Guests were treated to a pre-recorded “interview” with CryptoPunks creators Matt Hall and John Watkinson. In it, the pair claimed Nakamigos NFTs were actually an earlier, secret Larva Labs project — predating even CryptoPunks.
The story came complete with a dramatic countdown to the reveal of so-called “V0 Punks” and printed flyers to back up the narrative. The twist? It was all fake.
How the Market Reacted
Before the truth came out, the market went wild. Nakamigos — a collection known for its irreverent, meme-driven community — saw trading volume spike and its floor price soar nearly 140% in hours. While gains cooled, the collection still ended up 25% higher, at around 0.23 ETH.
Nakamigos are up 138% based off the news that they’re V.0 Punks
— JBond (@jbondwagon) August 10, 2025
A lot are claiming that they’re made by @larvalabs before they made Punks
I would have believed if I didn’t saw this video from the event 😂
I think @Nakamigos founder is in the event tho
And his name is @beeple… pic.twitter.com/Atl2kKLuCm
It didn’t take long for sleuths to debunk the claim. The video was reportedly AI-generated, and the “V0 Punks” backstory had no basis in fact. CryptoPunks launched in 2017, and there’s no credible evidence linking Nakamigos to Larva Labs.
The Fallout: Harmless Fun or Manipulation?
Reaction in the NFT world was sharply divided.
Supporters called it a refreshing injection of humor into a space often bogged down by price charts and legal disputes. NFT figure Beanie summed up that view:
“People are genuinely mad at Beeple for this obvious troll. I think it’s about time we start to make NFTs fun again. If you lost money trading this, it’s on you.”
Critics, however, argued the prank skirted dangerously close to market manipulation — knowingly spreading false claims in a way that triggered real financial moves.
Beeple has yet to publicly address the incident, but it’s not the first time he’s used performance-style antics to make a statement about NFT culture. The episode also comes at a time when Ethereum NFTs are enjoying a burst of renewed interest, partly thanks to Ethereum’s 10th anniversary.
The Bigger Picture
Whether you see it as art, trolling, or opportunism, the stunt underscores just how much influence a single high-profile figure can wield in the NFT space. In a market where perception can drive price faster than fundamentals, Beeple’s latest act is a reminder: in NFTs, the line between entertainment and economics is often razor thin.
