Anonymous CryptoPunk Owner Sets Up NFT Fund, Prioritizing Skills Over Identity
A prominent CryptoPunk NFT owner, who remains anonymous but wields significant influence via Twitter, has launched an investment fund focusing on NFTs for institutional investors.
The mysterious owner, known as Punk 6529, manages the fund, marking one of the first occasions such an endeavor is spearheaded by an unidentified portfolio manager. It affirms a metaverse where reputations of pseudonymous whales rest upon their shrewd NFT project selection skills, rather than personal backgrounds.
Punk 6529 confirmed the fund’s launch without providing additional commentary. The newly-formed 6529 NFT Fund, which has attracted institutional investor interest including crypto fund of funds operators, recently started its trading operations. The amount of capital raised remains undisclosed.
Punk 6529 boasts more than 240,000 Twitter followers and owns a collection of other rare, valuable NFTs. The anonymous figure frequently shares insights on subjects ranging from the metaverse’s future, SEC regulations, to wealth inequality. They also operate virtual NFT and digital photography galleries and are in the process of establishing a virtual museum, the 6529 Museum.
However, the fund’s launch raises questions about due diligence for prospective high-value investors, as institutions typically conduct extensive background checks and reference assessments before supporting a fund manager. The fund’s investment lockup duration is also unknown, raising further questions about its liquidity management strategy.
Nevertheless, the current scarcity of investment professionals with the expertise to generate substantial returns from NFT markets might encourage investors to overlook traditional procedures.
According to Punk 6529, the coming year is expected to witness a surge of institutional interest in the NFT space, making it an opportune time to launch such a fund.
- Anonymous NFT collectorPunk 6529 has more than 240,000 Twitter followers
- The launch raises questions for investors