This piece focuses on an alternate reality to our character, where they pretend to be someone that they are not in order to gain the approval of others, otherwise known as a Masquerade.
In this scene, the spotlight is on our zebra friend, and they are covered in a costume of Pepe the Frog, a popular character in the crypto culture. This piece shows the zebra sat, bathing within the spotlight of a crowded audience of an auction all with their gazes focused solely on the zebra figure, as if to symbolise that they are all mesmerised by the figure because he is dressed as a character that the masses love.
The Pepe costume looks sad, as if it wishes not to be worn despite it being an inanimate feature of clothing, you still feel a sense of pity for both the frog and the zebra.
The audience is all placing bids on this figure, all hoping to own the performance that stands in front of them, but they are only bidding for the frog, and not the soul beneath.
Whether you view it as a positive or negative is purely up to you.