09.12.2021

CryptoPunks NFT Token Brings Almost $ 5 Million In Revenue To Its Owner

A series of unique tokens called CryptoPunks is considered one of the most significant in the hype around NFT. It was created back in 2017, while now the volume of token trading continues to beat all cryptosphere records.

Much of the rise in popularity of CryptoPunks has come in the past few months, during which some digital art lovers have made their fortunes on cryptopunks out of almost nothing. Here are some of the most significant sudden wealth stories for investors who wait.

By tradition, let’s start with an explanation. Cryptopanks are one of the most popular collections of NFT tokens, the details and features of which we are already familiar with. Their number is limited to 10 thousand units, and each character has certain characteristics that set him apart from the rest.

It is the attributes that make the “punks” more or less rare. The more attributes an individual NFT has, the higher its value in the eyes of collectors. We checked the latest data: this line of tokens is available for sale, but it is very expensive. For example, here is a screenshot of the available crypto banks on the OpenSea platform.

nft crypto-bank tokens

Cryptopanks for sale on the OpenSea platform

At the same time, the popularity of this series of tokens is also growing. Yesterday, the average cost of selling one crypto-bank was the equivalent of 180 thousand dollars – and this is a record for the indicator.

crypto-bank token nft sale

Average selling price of CryptoPunk

Early collectors of this series really got it right with the trend – especially if they managed to keep the token for several years. In this case, their earnings were incredible.

How much do CryptoPunks sell for?

The first example is “cryptopank” number 2338. He belongs to a rare set of “crypto-punk zombies”, which includes only 88 out of 10 thousand avatars of the entire collection. The day before, the token was sold for 1,500 ETH or $ 4.38 million at the current cryptocurrency rate. This is one of the most expensive NFT trades in this series.

CryptoPunks NFT Tokens

CryptoPunk # 2338

Now let’s calculate the profit of the former owner of the token. He purchased it back in November 2018 for 3.5 ETH, which is $ 443 at the time. It turns out that the seller earned over a million percent of the profit on his last trade . Such figures are striking even in the cryptoindustry, where many are accustomed to the “x” on coins with a small market capitalization – the product of the rate by the number of coins in circulation.

And this is without taking into account the fact that after the creation of the series tokens were distributed completely free of charge to everyone with an ETH wallet in 2017, Decrypt reports. As you can see, in almost four years, “crypto-banks” have demonstrated unprecedented profitability, overtaking many well-known crypto projects in this indicator.

By the way, the functionality of NFT goes beyond the use of tokens in art. They can also be used to use a variety of services. For example, as we found out in July, NFTs are quite capable of replacing a subscription to a streaming platform like Netflix.

CryptoPunks NFT Tokens

Cheapest CryptoPunks

Even the well-known auction house Sotheby’s joined the hype around this series of NFT, which in June this year sent under the hammer “crypto-bank” # 7523 worth 11.8 million dollars. One of the last big deals with CryptoPunks was made quite recently: YouTube blogger and influencer Gary Vaynerchuk bought his “crypto-bank” for 1600 ETH or 4.6 million dollars at the current rate .

CryptoPunks NFT Tokens

CryptoPunk # 7523

According to the site of the creators of the project Larva Labs, the most affordable token of the series is currently estimated at 43 ETH or 127 thousand dollars. That is, the hype around NFT is back in force, because a couple of weeks ago the cheapest “crypto-bank” cost almost half as much. It is important to note that a mystery shopper has made a big contribution to the recent rise in the price of NFT and has begun to actively acquire the most affordable “crypto-banks”.

We believe that CryptoPunks are just a fraction of the potential that unique tokens will showcase in the future. The world is rapidly becoming virtual, which means that virtual goods begin to rapidly acquire value.

“Cryptobanks” are just such a value that allows their owner to publicly demonstrate the fact of acquiring a unique virtual avatar. Most importantly, you can confirm ownership even without disclosing your identity.

This story has become another proof of the advantages of the so-called hodl strategy. Nevertheless, an investment for a long time will sooner or later pay off – and for the cryptocurrency and blockchain sphere, this is especially important.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *