CryptoPunks Flagship NFT Project Hits $1 Billion In Total Sales

The CryptoPunks flagship NFT project recently hit $1 billion in total sales reaching a historic milestone as we are reading more in our latest crypto news today.

Axie Infinity has amassed $1.6 billion so far and it now hit $1 billion a week ago. The CryptoPunks flagship NFT project has a 10,000 collection of ETH-based NFTs, now became the second NFT project to hit the billion-dollar mark after the NFT game Axie Infinity surpassed the same level. The game surpassed a total trading volume of $1.6 billion so far. The punks are so valuable right now that the cheapest one sells for $445,000 and the prices started rising fast. The floor price for one single CryptoPunk was $345,000. Some of the punks are rarer than others and each commands different prices as the algorithm that generated the collection assigned different attributes to each punk. The Punks were created in 2017 by Larva Labs which is a software company that is run by the Brooklyn-based developers Matt Hall and John Watkinson with the pair intending for the Punks to be used as a part of the videogame but released them as NFTs.

Watkinson and Hall claimed 1000 Punks for themselves and allowed the community to claim the rest for free. Since then, the Punks soared in value because they are one of the oldest collections of their kind and trading even surged to new heights last month pushing the daily volume of CryptoPunks up from $1.8 million to $41.5 million in one week. Things got even worse as CryptoPunks hit a daily sales record of $101 million when Visa purchased a punk and the project’s total trading volume increased by 716% according to the data from CryptoSlam. Today it is set to become another record-breaker as the sales hit $98 million. Other NFT projects sought to capitalize on the CryptoPunks idea and the Bored Ape Yacht CLub a collection of 10,000 tired-looking primates hit $320 million in sales. NBA start Stephen Curry purchased an Ape and hours before the project is due to release the breeding feature, $36 million of the apes were sold.

As recently reported, An NFT game founder lost 16 cryptopunks in a phishing attack a day ago and the scammer’s already sold 5 of those and made a staggering $385,000 and he also lost a bunch of ETH after falling prey to the scammer.