Mask Network buys CryptoPunk for 159 ETH

Mask Network has purchased CryptoPunk and will deposit it in MaskDAO, the project’s non-convertible token (NFT

) marketplace. Sponsored

Encryption-focused project Mask Network, announcing on Twitter, has purchased N

FT CryptoPunk

for 159 ETH. Saying that CryptoPunk #6128 “shows the spirit” of Web 3.0

, it will be an asset placed on its marketplace, MaskDAO. In dollars, 159 ETH equals about $503,000 at the time of writing this article.

Mask Network also hinted at NFT-related features in a tweet. The team suggested that more can be achieved with NFT on the Mask extension, but no further details were given.

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This purchase implies another project working with NFT – or even the purchase of CryptoPunk, for that matter. Both of the above have become mainstays of the market, with many taking advantage of the opportunities.

This comes at a time when both these instruments are highly sought after in the market. It has been a few years since the advent of NFTs, but since then their growth has been exponential. LarvaLabs, the creator of CryptoPunks, is currently working on a new NFT design

that is inspired by Voxel art.

CryptoPunks sales have surpassed 1 billion. USD

It is no surprise that many people are buying NFT CryptoPunks. The collector’s set has been doing phenomenally since its inception, gaining traction in a huge space with new NFTs being released daily. The popularity of the character and the overall idea has encouraged countless others to do the same.

Another big player that has invested in CryptoPunks is Visa, which purchased one character for $150,000. The payment processing company has had its doubts about cryptocurrencies in the past, but has been taking encouraging steps recently.

In the case of CryptoPunks, the proof is the icing on the cake – total sales have surpassed $1 billion, a staggering sum for such an upstart concept. Furthermore, CryptoPunk is flirting with impressive daily volumes of around $50 million, which is quite a feat. Such large volumes indicate the legitimacy and perceived usefulness of NFTs, which also have applications in the real estate, sports and gaming industries.

CryptoPunk has come a long way from being a free-to-claim asset on Ethereum

. The 10,000 collectible items available can now be purchased exclusively through the NFT markets.

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