Record $900 million month for NFT sales as CryptoPunks go stratospheric

By Clark

Almost $400 million has been spent on CryptoPunks over the past thirty days.

August is shaping up to be a record month for nonfungible token sales with virtually $900 million spent on them over the past thirty days.

According to information from the trailing portal Nonfungible, $896 million has been spent on NFTs over the past thirty days. The number is incredibly doubtless to exceed $900 million by the end of the month marking a brand new record for the burgeoning trade.

The number is over triple the previous best month for NFT sales in May one $255 million were oversubscribed. August has seen sales skyrocket and it’s been for the most part right down to CryptoPunks and Axie eternity.

According to Cryptoslam, a record $397 million in CryptoPunk sales have occurred to this point this month. The common sale worth for the pixelated punks could be a banging $214,000. One among the foremost dear ones ever oversubscribed was variety 7523, a rare alien punk carrying a mask that went for a banging $11.5 million in a very Sotheby’s auction in June.

Earlier in the week, Credit card large Visa declared that it had purchased its own CryptoPunk for 49.5 ETH, price just below $150,000 at the time of purchase. Head of crypto at Visa Cuy Sheffield said:

“With our CryptoPunk purchase, we’re jumping in feet initially. This can be simply the start of our work in this place.”

Chinese trade outlet Chinese Blockchain reports that Chinese investors are shopping for up CryptoPunks like proverbial hotcakes. Cai Wensheng, the founding father of smartphone software  firm Meitu, splashed out on CryptoPunk 8236 with 125 ETH, roughly $387,000.

Meitu was one among the primary publicly listed corporations in China to bet massively on cryptocurrencies, buying $100 million in Bitcoin and Ethereum earlier this year.

NFT’s have additionally been driving the adoption of the staking cryptocurrency Tezos. According to a journal post earlier this year, Tezos NFT platforms have proved to be enticing for artists thanks to low dealing fees and an additional energy-efficient proof-of-stake accord mechanism favored by eco-conscious artists.

Clark

Head of the technology.