“The eschatology of 1 Peter is consonant with that found in the rest of the NT. Peter emphasizes that OT prophecies are fulfilled in Jesus Christ: He is the slain lamb and the suffering servant, and the new exodus (redemption) has become a reality through Him.
Jesus is Lord and King, for He triumphed over demonic powers at the cross. They are now subject to Jesus as the victorious and ascended Lord.
Because of God’s work in Christ, believers live between the times. They are born again, redeemed by the blood of Christ, and freed from guilt because the suffering servant died in their place.
All of this took place to bring them to God (3:18), so that they could rejoice in His presence forever.”
–Thomas Schreiner, The King in His Beauty: A Biblical Theology of the Old and New Testaments (Grand Rapids: Baker, 2013), 606.