Punks Keep Climbing HigherAug 30, 2021
Over the weekend, news that Chinese billionaires are scooping punks circulated on Crypto Twitter. This induced peak FOMO that drove CryptoPunk’s floor price up to as high as ~140 ETH from ~90 ETH within just 2 short days.
As NFTs gain traction among the mainstream, the flex and provenance value from owning scarce, blue-chip NFTs such as CryptoPunks should increase over time.
Delphi’s very own gmoney also talked about the paradigm shift in marketing that NFTs bring forth with Visa’s CryptoPunk purchase. Instead of marketing with expenses (Facebook/YouTube/Google Ads), owning a CryptoPunk as a brand also allows brands to reach crypto communities while having a marketing asset sit on the balance sheet.