Record $900 million month for NFT gross sales as CryptoPunks go stratospheric
August is shaping as much as be a document month for nonfungible token gross sales with virtually $900 million spent on them over the previous 30 days.
According to information from the monitoring portal Nonfungible, $896 million has been spent on NFTs over the previous 30 days. The quantity could be very more likely to exceed $900 million by the top of the month marking a brand new document for the burgeoning business.
The quantity is greater than triple the earlier greatest month for NFT gross sales in May when $255 million have been bought. August has seen gross sales skyrocket and it has been largely right down to CryptoPunks and Axie Infinity.
According to Cryptoslam, a document $397 million in CryptoPunk gross sales have occurred up to now this month. The common sale value for the pixelated punks is a whopping $214,000. One of the most costly ones ever bought was quantity 7523, a uncommon alien punk carrying a face masks that went for a whopping $11.5 million in a Sotheby’s auction in June.
Earlier this week, bank card large Visa introduced that it had bought its personal CryptoPunk for 49.5 ETH, price slightly below $150,000 on the time of buy. Head of crypto at Visa Cuy Sheffield mentioned:
“With our CryptoPunk purchase, we’re jumping in feet first. This is just the beginning of our work in this space.”
Chinese industry outlet Wu Blockchain reported that Chinese investors are buying up CryptoPunks like proverbial hotcakes. Cai Wensheng, the founder of smartphone software firm Meitu, splashed out on CryptoPunk 8236 with 125 ETH, roughly $387,000.
Meitu was one of the first publicly traded companies in China to bet big on cryptocurrencies, purchasing $100 million in Bitcoin and Ethereum earlier this year.
Chinese Internet investors have bought CryptoPunk one after another. Meitu founder Cai Wensheng bought CryptoPunk #8236 with 125ETH. Feng Bo bought CryptoPunk#7252 for 1600ETH (approximately US$5.33 million). pic.twitter.com/LyGxNRORJX
— Wu Blockchain (@WuBlockchain) August 26, 2021
Related: Clever person makes $80K revenue in CryptoPunk ‘smash and seize’
NFT’s have additionally been driving the adoption of the staking cryptocurrency Tezos. According to a blog post earlier this 12 months, Tezos NFT platforms have confirmed to be enticing for artists as a consequence of low transaction charges and a extra energy-efficient proof-of-stake consensus mechanism favored by eco-conscious artists.