NFT Monthly Sales Reach Record $900 Million as CryptoPunks Sales Soar

NFT Monthly Sales Reach Record $900 Million as CryptoPunks Sales Soar
August is shaping up to be a record month for non-homogenized token sales, which have reached nearly $900 million in the past 30 days.

According to tracking portal Nonfungible, NFT has attracted $896 million in the last 30 days. That figure is likely to exceed $900 million by the end of this month, marking a new record for the burgeoning industry.

This figure is three times the previous best month for NFT sales, which were $255 million in May, the previous best performing month. sales soared in August, thanks in large part to CryptoPunks and Axie Infinity.

NFT sales in the past 30 days (USD) – nonfungible.com

Cryptoslam data shows that sales of CryptoPunks have reached a record $397 million so far this month. The average selling price of these pixelated punk is a whopping $214,000. One of the most expensive punks was number 7523, a rare alien punk wearing a mask that sold for a staggering $11.5 million at a Sotheby’s auction in June.

Earlier this week, credit card giant Visa announced that they had purchased their own CryptoPunk for 49.5 ETH, worth slightly less than $150,000 at the time of purchase. cuy Sheffield, head of cryptocurrency at Visa, said.

“With the purchase of CryptoPunk, we moved quickly into the NFT space. This is just the beginning of our work in this space.”

Chinese investors are buying CryptoPunks, according to Chinese industry media Wu Says Blockchain, and Cai Wensheng, founder of smartphone software company Meitu, bought CryptoPunk 8236 for 125 ETH (about $387,000).

Meitu was one of the first public companies in China to invest heavily in cryptocurrencies, buying $100 million in bitcoin and ethereum earlier this year.

Chinese internet investors have been buying CryptoPunk one after another. Meitu founder Vincent Tsai bought CryptoPunk #8236 for 125 ETH. Feng Bo bought CryptoPunk #7252 for 1,600 ETH (about $5.33 million).

— Wu Says Blockchain (@WuBlockchain) August 26, 2021

NFT has also driven the adoption of the cryptocurrency Tezos. According to a blog post earlier this year, the NFT platform on Tezos has proven attractive to artists due to low transaction fees and the preference of eco-friendly artists for a more energy-efficient proof-of-stake consensus mechanism.

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