CryptoPunks has become the second project to exceed $1 billion in trade volume after Axie Infinity, which has raised $1.6 billion on August 8. The flagship NFT collectible project is the company’s second billion-dollar endeavor following the successful launch of its CryptoPunks trading platform earlier this month.
The second project CryptoPunks has now reached $1 billion in transaction volume. The second billion-dollar project of the company is the largest collectible NFT project. On August 8, CryptoPunks took over Axie Infinity, which raised up to $1.6 billion.
The Punks are currently so valuable, that a single one’s lowest prices are $445,000 – and prices grow fast. For instance, some smoke cigarettes, others are zombies, and others are aliens, every attribute has its own unique value.
Some punks are less frequent than others and each command has different prices. Each point has different attributes from an algorithm generated by the collection four years ago.
Matt Hall and John Watkinson of Larva Labs, a Brooklyn-based software business, created the Punks. The pair was originally designed as a video game for the Punks, but they were instead issued as NFTs.
Trading hit unprecedented heights last month with a daily volume of CryptoPunks rising from $1.8 million in only one week to $41.5 million in just one month. One of the earliest collections of Punks is estimated to be worth more than $100 million today.
This week, things became hotter. According to data from CryptoSlam, CryptoPunks set a new day sales record of $101 million on Monday when Visa purchased one of the Punks, and the project’s total trade volume climbed by 716 percent in the previous week. Today, sales had topped $98 billion by 5 p.m. UTC and are certain to become another record-breaker.
Other NFT projects have taken advantage of the CryptoPunks concept. The collection of ten thousand fatiguing primates published in April is the most popular Bored Ape Yacht Club.
The Bored Apes was sold today for a record $36 million, only a few hours before the reproductive feature of the project was launched. The purchases today were just hours before NBA star Stephen Curry would take part in the NBA All-Star game, exactly as he bought the Ape.