- CryptoPunks surpassed 1 billion lifetime transactions earlier today.
- The NFTs recorded $140 million in transactions over the last 24 hours.
- Also, CryptoPunks signed a Hollywood deal with UTA.
CryptoPunks, the viral non-fungible token (NFT) sensation, is making waves, surpassing 1 billion lifetime transactions. According to Larva Labs, CryptoPunks recorded $140 million worth of transactions in the last 24 hours.
Several factors have contributed to the spike in CryptoPunk interest. First, CryptoPunks are currently hot among Chinese investors. As a result, several leading Chinese tycoons have invested in the NFTs.
In fact, some recent Chinese CryptoPunk buyers include Meitu founder Cai Wensheng. Wensheng notably purchased CryptoPunk #8236 for 125ETH. At the time of writing, ETH is trading at $3,367.59. Meaning, the businessman spent a whopping $420,948.75 on his CryptoPunk.
Prior to this, Meitu, which is a Hong Kong-listed photo-touch-up app, also invested in crypto. To be specific, Meitu purchased BTC and ETH worth $40 million earlier this year.
In addition, Dragonfly Capital Founder, Feng Bo, recently purchased Cryptopunk #7252 for 1600ETH (about $5.33 million).
Another reason CryptoPunk could be trending is because Larva Labs recently partnered with United Talent Agency (UTA). UTA will be taking CryptoPunks to Hollywood via film, TV, video games, publishing, and licensing. Speaking on the partnership, UTA head of Digital Assets Lesley Silverman noted,
Read CRYPTONEWSLAND on
google news
I would say that it is one of the first opportunities for an IP that fully originated in (the) crypto-world to enter a broader entertainment space, and they earned it.
To clarify, Larva Labs created over 10,000 unique digital characters called CryptoPunks. The project launched in 2017 on Ethereum. While the NFTs were initially free, they have since appreciated in value. In fact, one of the CryptoPunk rock NFTs recently sold for over $103,000.
As such, Larva Labs views the deal with UTA as a way to help boost the value of its CryptoPunk collections over time.
Related News
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
