Record $900 million month for NFT sales as CryptoPunks go stratospheric

Almost $400 million has been spent on CryptoPunks over the last 30 days.

August is shaping up to be a record month for nonfungible token sales with virtually $900 million spent on them over the past thirty days.

According to information from the chase portal Nonfungible, $896 million has been spent on NFTs over the past thirty days. the quantity is incredibly doubtless to exceed $900 million by the tip of the month marking a brand new record for the burgeoning business.

The number is over triple the previous best month for NFT sales in might once $255 million were sold . August has seen sales skyrocket and it’s been for the most part all the way down to CryptoPunks and Axie Infinity.

NFT sales in USD, past 30 days —

According to Cryptoslam, a record $397 million in CryptoPunk sales have occurred to this point this month. the typical sale worth for the pixelated punks may be a humongous $214,000. one among the foremost pricy ones ever sold was variety 7523, a rare alien punk carrying a mask that went for a humongous $11.5 million during a Sotheby’s auction in June.

Earlier on, mastercard big Visa proclaimed that it had purchased its own CryptoPunk for 49.5 ETH, price slightly below $150,000 at the time of purchase. Head of crypto at Visa Cuy Sheffield said:

Chinese trade outlet Wu dialect Blockchain reported that Chinese investors are shopping for up CryptoPunks like proverbial hotcakes. Cai Wensheng, the founding father of smartphone code firm Meitu, splashed out on CryptoPunk 8236 with 125 ETH, roughly $387,000.

Meitu was one in all the primary publically listed firms in China to bet massive on cryptocurrencies, buying $100 million in Bitcoin and Ethereum earlier this year.

Related: Clever user makes $80K profit in CryptoPunk ‘smash and grab’

NFT’s have additionally been driving the adoption of the staking cryptocurrency Tezos. Consistent with a blog post earlier this year, Tezos NFT platforms have tried to be enticing for artists thanks to low dealings fees and a additional energy-efficient proof-of-stake accord mechanism favored by eco-conscious artists.

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