Daily sales of CryptoPunk NFTs are hitting record levels, with one rare zombie token selling for $5.3 million
By: Business Insider
August 24, 2021 at 13:10 PM EDT
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Look no further than the numbers behind the CryptoPunks NFT collection to see just how much the market for non-fungible tokens is booming.
On Monday, daily sales volume of CryptoPunks hit a record $86 million, according to CoinDesk, which cited industry tracking website CryptoSlam.
In the last 30 days, sales volume for CryptoPunks has grown 881% to top $461 million, per CryptoSlam.
Meanwhile, a single Zombie CryptoPunk sold for 1,600 ether, or $5.3 million on Tuesday. CryptoPunk #7252 is the fourth most valuable CryptoPunk and the highest in the rare green-faced zombie category. The seller originally paid $2.5 million for the NFT, more than doubling their investment through the transaction.
Most of the 10,000 CryptoPunks don't sell in the seven figures, but the art collection's NFTs still sell for higher than the average project. Visa, for example, paid $150,000 to buy CryptoPunk #7610 on Monday.
The banking giant's purchase is a sign of mainstream interest in the non-fungible token space.
Visa's head of crypto said NFTs have the potential to become a "powerful accelerator for the creator economy and lower the barrier to entry for individual creatives to earn a living through digital commerce."