The dust has cleared, at least a little, on Beeple’s latest caper. His Nakamigos “V0 Punks” stunt recently sent shockwaves, or maybe ripples, through the NFT ecosystem. The issue isn’t whether that was funny, clever, or weird. The real question is: at whose expense?

Humor or Harmful Market Manipulation?

Let's be clear: Beeple’s got influence. When he speaks (or, in this instance, stages elaborate AI-fueled satire), people listen—and, more importantly, people buy. Nakamigos floor price increased almost 140% on the first day. A 25% increase afterward? That's still significant. Someone, somewhere, made money on this. But someone else turned out to be left holding the bag. Those "someones" are not usually Beeple. Nor are they typically the NFT whales who are already wealthy.

I think that it might be funny to play a prank on your friends, but should you play a prank using other people's money? I am not so sure.

Aside from building a more inclusive web3, I focus on democratizing DeFi and NFTs, specifically in the global south. Africa is the original home of my heart for these work. Access to capital is an enormous barrier as it is. These communities are already vulnerable. It’s no joke for retail investors in Nigeria or Kenya. When they spend their hard-earned money on what they believe to be a promising NFT project – only to have a celebrity orchestrate a pump and dump – it hurts. It’s a devastating financial hit that can knock them years back.

It’s tempting to write this off as “part of the game,” but this is a harmful and quite frankly irresponsible mindset. For the NFT space to truly thrive, greater consumer adoption, understanding and trust is necessary. Actions such as these do great damage to that trust, especially for those already wary of stepping foot inside the arena.

Forgotten Voices; Remember the Little Guy?

We love to rejoice in major victories, the record high sales, and the star power appearances. We rarely hear about the artist in Johannesburg who’s priced out of being able to mint their work because of the gas fees. Similarly, the collective in Accra struggles for attention in a field overwhelmed by Western-led projects. These are the voices we’re now most in need of amplifying. These are the communities that should be empowered, not exploited under the guise of performance art.

Beeple is a talented artist, no doubt. With great power comes great responsibility. What better place for him to use that powerful platform to champion emerging artists. He’s committed to ethical practices and forging a more equitable NFT ecosystem. Instead, he uses it to… troll?

What kind of signal does that send to future creators of color. The secret ingredient to their success isn’t talent, hard work or innovation. It’s the unique capacity to pop the market with a sharp practical joke!

Being a digital artist from Ghana, my good friend Kwame was able to paint a much more realistic picture of the opportunities available. He feels strongly about this. He said, and I quote, "It's like watching the rich get richer while the rest of us are just trying to survive. It's discouraging."

Kwame’s words resonate with a refrain expressed by countless others across the African NFT ecosystem. They see these theatrical performances for what they are—obvious displays in a rigged system that rewards the privileged and powerful. This continues to leave the general public on the sidelines.

A Call to Action; Demand Better Behavior

This isn't about canceling Beeple. It's about demanding better. It’s proving more difficult to hold influencers accountable for their actions, and understanding the real-world consequences of influencer decisions.

We believe that the NFT space can continue to be a powerful force for economic empowerment and creative expression. That potential will only be realized if we intentionally make the effort to develop a more equitable and inclusive ecosystem. It begins with holding the powerful accountable and demanding they do better.

  • Be a Critical Consumer: Don't blindly follow the hype. Do your research. Understand the projects you're investing in.
  • Support Ethical Projects: Seek out NFT initiatives that prioritize community well-being, transparency, and fair practices.
  • Amplify Marginalized Voices: Share the work of artists and creators from underrepresented communities. Give them the visibility they deserve.
  • Demand Accountability: Speak out against manipulative tactics and hold influencers accountable for their actions.

The Nakamigos stunt was more than a bad joke. It’s time to start hearing from those silenced voices. We can’t wait to create an NFT space that works for the many, not the privileged few. Let’s advocate for genuine transformation, authentically rooted neighborhoods – not hype-driven invention and here today, gone tomorrow patentees.

The Nakamigos stunt wasn't just a joke; it was a wake-up call. It's time we start listening to those forgotten voices and building an NFT space that works for everyone, not just the privileged few. Let’s champion real innovation and true community, not manufactured hype and fleeting profits.