The CryptoPunk is his first move into an emerging sector – NFTs – and also shows that he is aware of the leading ‘blue-chip’ collections in the space, which includes Punks and Bored Ape Yacht Club.
— Mike Novogratz (@novogratz) November 5, 2021
Interestingly, Novogratz has yet to change his Twitter profile picture to the Punk – a now established Twitter tradition in the NFT space.
CryptoPunks are starting to attract serious investors and capital to the NFT space due to the high price-tags attached to a Punk, the status that comes with owning one and the opportunity to build a brand around your NFT.
Other prominent investors, such as ‘Wolf of Wall Street’ Jordan Belfort, have also moved into NFTs following high-profile Punk purchases in recent weeks.
Novogratz, CEO of Galaxy Digital (GLXY) – the “bridge between the crypto and the institutional worlds” – has been a recent advocate for digital assets and cryptocurrencies.
He spoke recently at NFT NYC about how NFTs can impact the worlds of film and entertainment, where he revealed that he was “talking about NFTs in 2014”, suggesting his purchase has been a long time coming.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.