Crypto payment firm MoonPay buys CryptoPunk NFT

There was a lot of crypto news at the start of the year as the NFT market continued to strengthen.

Non-fungible tokens, more commonly referred to as NFTs, are both individual and unique. The key feature, therefore, is that they cannot be copied or duplicated. This very attribute has made NFTs particularly popular in the arts and entertainment world.

What is MoonPay?

Launched in 2019, MoonPay supports the buying and selling of cryptos. Users can seamlessly trade cryptos and fiat using credit and debit cards as well as payment platforms like Apple Pay and Google Pay.

In addition to cryptocurrencies, MoonPay has also moved into the NFT space. This decision is strategic, MoonPay seeking to seize market share of the NFT.

Last November, MoonPay made headlines after raising $ 555 million in Series A funding to bring the company’s value to $ 3.4 billion.

NFT Market News

There was no shortage of NFT news at the turn of the year. Recent activity suggests another boom year for the NFT market.

Just this week, Quinten Tarantino announced that the planned sale of Pulp Fiction NFTs will continue, which will likely generate a lot of interest among buyers. Sport and the NFT have also joined forces, with the NBA and NFL entering the NFT space.

As Pulp Fiction and Quinten Tarantino enter the NFT space is big news, and sports including tennis also garner a lot of interest, CryptoPunks continues to be one of the most popular NFTs on the market. NFT.

MoonPay buys CryptoPunks

The news fell on the wires This morning, MoonPay bought NFT CryptoPunk # 2681 for 900 ETH, which equates to around $ 3 million. To date, MoonPay has reportedly focused on items from the market-leading Bored Ape Yacht Club collection. MoonPay has purchased NFTs for famous clients, which is aligned with its NFT market strategy.

In December 2021, Pak’s “The Merge” officially became the most expensive NFT ever sold at $ 91.8 million. 28,983 collectors have come together to buy “The Merge”. Until December, the most expensive NFT was Beeple’s collage titled “Everydays: the First 5000 Days”. The NFT was purchased by a single collector for $ 69.3 million.

At the turn of the year, OpenSea reportedly saw transaction volume in 2022 increase by more than $ 700 million, driven by the “bored monkey mania NFT frenzy.” The report notes that OpenSea achieved a record transaction volume of $ 225.8 million on the 3rde January alone.

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About Matthew R. Dailey

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