Following the news that Visa purchased CryptoPunk earlier today, about 90 NFT collectibles were sold within an hour. The total amount of those sales was about $20 million.
CryptoPunks are a collection of 10,000 pixelated faces, featuring humans, apes, zombies and aliens. They are a set of non-fakeable tokens, or NFTs, meaning each has its own unique properties, created by Larva Labs in 2017.
Visa revealed that it bought CryptoPunk 7610, one of 3,840 female punks, for about $150,000 last week. It said the NFT would be “a great addition to our collection of artifacts” and play an important role in the future of commerce.
Unsurprisingly, the purchase has spurred a surge in demand for CryptoPunks on the market. According to Larva Labs’ website, a wave of sales has passed, mainly of human CryptoPunks. most sold for around $180,000 to $250,000, although one went as high as $917,000.
They tend to be above the average CryptoPunk sale, which is currently around $170,000.
CryptoPunk sales can reach much higher than that. According to NFT tracker CryptoSlam, the highest CryptoPunk sale in history was $7.6 million for an alien punk with sunglasses, a bong and a hat.