A series of unique CryptoPunks tokens has become a symbol of the rapid growth of hype around NFT this year. This is a collection of 10,000 unique pixel art portraits with unique artifacts that have been randomly generated.
Some of them are so rare that collectors are willing to pay millions of dollars for such images . The rise in popularity of CryptoPunks has made tokens one of the most efficient ways to make money this year. Fortunately, now not only the owners of huge fortunes will be able to connect to the trend.
There is one nuance in the history of this series of NFT tokens: the cheapest «crypto-banks» on the OpenSea trading platform are estimated at more than 80 thousand dollars. That is, the entry threshold for buying your first NFT from this collection is very high.
We checked the actual data: the average transaction price with NFT tokens from the CryptoPank line is now simply huge. Yesterday, the figure was the equivalent of $ 173,000, and its peak at 195,000 was recorded on 13 August. What is most surprising is that on January 1, 2021, an average of 6.7 thousand dollars was asked for one crypto bank.
Average cost chart of CryptoPanks
173 thousand dollars is an unaffordable amount for most crypto investors. The Otis trading platform, which sells a fraction of the value of collectibles like baseball cards, unique comic books and much more, can solve the problem of the huge entry threshold. Thanks to her, the owner of any wallet can join the most hype trends in the world of unique tokens.
How to buy parts of NFT tokens
Recall that NFT are unique tokens of the ERC-721 standard (in the case of the Ethereum network), existing in a single copy or simply in a limited number. They cannot be replaced and divided, as can be done, for example, with the same ether, where 1 ETH is divided into a billion particles called gui .
In gway, the cost of gas is usually estimated, which in turn determines the price of interaction with the Eth blockchain. Read more about gas in a separate article .
CryptoPunks Tokens
This feature is the growing value of NFT collections like «crypto-banks» – users pay not so much for the digital portrait itself, but for the «piece of history» of the Ethereum blockchain and the very fact of its uniqueness. Moreover, loading a certain crypto bank as a picture will not give anything, because in this case the owner of the image will not have a token in the cryptocurrency blockchain. But how, then, can one NFT be divided into several pieces?
Unique collectibles on the Otis platform
The creators of Otis offer another way out – to sell «shares», that is, shares of unique tokens on their platform. Earlier, CryptoPunk # 543 auction was held on Otis , where anyone could purchase so-called NFT shares, starting with an investment of just $ 1. The platform later launched trading in these shares of the unique token, allowing other investors to join the NFT frenzy, CryptoSlate reported .
CryptoPunk # 543
Most likely, such an idea will be popular given the relevance of the NFT trend at a given time period. Now the trading volumes of unique tokens are close to their maximum. For example, last week the figure was the equivalent of $ 417 million. The first week of August became a record one: during it, transactions worth $ 518 million were recorded on the blockchain.
Trading volumes for unique NFT tokens
Today Visa announced the purchase of representatives of the Cryptopank family. The payments giant acquired punk number 7610, one of 3,840 female punks. The transaction amount was 49.5 ETH, that is, the equivalent of $ 164 thousand at today’s exchange rate. Punk itself looks like this.
Cryptobank # 7610, which was bought by Visa
We believe that this trend will be popular, and that expensive NFT tokens will gradually be sold in parts. Thus, more investors with fresh capital will come to the niche. In turn, this will motivate developers of new projects and will have a good effect on the popularity of the blockchain asset industry as a whole. Well, globally popular companies will certainly pick up the idea that Visa implemented the day before. So while we are waiting for a new stage of the hype around NFT.
