MoonPay Company Acquires CryptoPunk NFT for $3 Million

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MoonPay Company Acquires CryptoPunk NFT for $3 Million
MoonPay Company Acquires CryptoPunk NFT for $3 Million

There has been a lot of crypto news since the beginning of the year with the NFT market continuing to grow. Hence, the main feature is that they cannot be duplicated or copied. This feature makes NFT particularly popular in the arts and entertainment worlds.

MoonPay Acquires CryptoPunks NFT

According to press release in the early hours of January 7, MoonPay NFT had bought CryptoPunk # 2681 for 900 ETH, which is about $3 million. So far, MoonPay has reportedly focused on the market leading line of products, Bored Ape Yacht Club. MoonPay is buying NFTs for prominent customers, which is in line with its NFT marketing strategy.

In December 2021, Paks “The Merge” officially became the most expensive NFT of all time at $91.8 million. 28,983 collectors gathered to buy “The Merge”. By December, the most expensive NFT Beeples collage was entitled “Every Day: The First 5000 Days”. NFT was purchased from a collector for $69.3 million.

OpenSea’s transaction volume reportedly soared to more than $700 million in 2022 earlier this year, fueled by the “boring Ape-Mania NFT frenzy”. The report indicated that OpenSea’s transaction volume alone on January 3 hit a record high of $225.8 million.

What is MoonPay?

MoonPay is a crypto payment company that was launched in 2019 to help buy and sell cryptocurrencies. Users can use credit and debit cards, as well as payment platforms like Apple Pay and Google Pay, to seamlessly exchange cryptocurrency and legal tender. In addition to cryptocurrency, MoonPay has also entered the NFT field. This move is a strategic move and MoonPay hopes to capture the NFT market share.

Last November, MoonPay raised $555 million as part of its Series A funding, bringing the company’s value to $3.4 billion after the news broke.

NFT Market News

There was no shortage of NFT news at the beginning of the year. Recent activity shows that the NFT market was another successful year.

Just this week Quinten Tarantino announced that sales of the proposed Pulp Fiction NFT would continue, which could pique the interest of many buyers. Sports and NFT have also joined forces, and the NBA and NFL have stepped into the NFT field. Although Pulp Fiction and Quinten Tarantino’s entry into the NFT space is big news, and sports like tennis have also piqued the interest of many, CryptoPunks is still one of the most popular NFTs in the NFT market.