That makes CryptoPunks the second NFT undertaking to hit the billion-dollar mark after the NFT game Axie Infinity surpassed that level on August 8. The game has amassed a complete trading volume of $1.6 billion so far.
The Punks are actually so invaluable that the cheapest one sells for $445,000. And prices are rising, fast: just yesterday, the floor price for a single CryptoPunk was $345,000.
Some Punks are rarer than others, and every commands completely different prices; the algorithm that generated the collection 4 years in the past assigned different attributes to every Punk. For instance, some smoke cigarettes, some are zombies and others are aliens.
The Punks were created in 2017 by Larva Labs, a software firm run by Brooklyn-based developers Matt Hall and John Watkinson. The pair initially intended for the Punks for use as a part of a videogame however launched them as NFTs instead.
Corridor and Watkinson claimed 1,000 Punks for themselves and let the community declare the remaining for free. Within the years since, the Punks have soared in value, in part because they’re one of the oldest collections of their form.
Trading surged to new heights late last month, pushing CryptoPunks’s daily volume up from $1.8 million to $41.5 million within a week.
Issues acquired even hotter this week. On Monday, CryptoPunks hit a daily sales report of $101 million when Visa purchased one of the Punks, and the undertaking’s whole trading quantity elevated by 716% in the past week, based on data from CryptoSlam.
Right this moment is set to be another record-breaker: as of 5 pm UTC, sales have already hit $98 million.