CryptoPunks surpass $1bn in total sales

The popular Ethereum-powered collection of nonfungible tokens (NFTs), CryptoPunks, has managed to accumulate more than $1bn in total sales.

The news was reported by NFT aggregation platform CryptoSlam.io which has been tracking the entire industry and the most successful NFT initiatives.

CryptoPunks is now the second most successful NFT initiative, following Axie Infinity, the play-to-earn game which has been able to amass an impressive $1.6bn in trading volume so far.

Axie Infinity has been so successful that it has caught the eye of Philippines authorities. A debate is ongoing whether Axie Infinity’s player earnings should be taxed. Meanwhile, CryptoPunks have been having a good run.

CryptoPunks has set some interesting price records, selling some of its tokens for $345,000 or $445,000 a pop.

Each of the NFT “Punks”, as the tokens are called, has a different price and how much it ends up costing depends on the hype for each individual asset.

The collection was created back in 2017 by Larva Labs when few people even knew what NFTs were. CryptoPunks has been so popular, that even Visa has snapped up a copy.

Outside of NFTs, Bitcoin and other cryptocurrencies are powering an entertainment revolution. Players are joining places such as Bitcasino, 1xBit and FortuneJack for a fun, crypto-fueled gaming experience.

Source

Updated: 08/30/2021 — 12:01