Payments giant Visa purchases NFT for $150,000

The NFT community welcomes its latest institutional collector as Visa purchases Cryptopunk #7610, a digital avatar from one of the most historically significant series of NFT’s 

Visa are now a part of the NFT scene after completing one of the most significant purchases of an non fungible token by a world leading institution. Paving the way for other corporations to begin adopting digital assets and adding them to their balance sheets. The NFT purchased during this transaction is one of 10,000 unique avatars from the popular Cryptopunks series. The series gained popularity initially back in 2017 and intrest has only grown ever since 

As can be seen by studying the on-chain data,  Cryptopunk #7610 was purchased from the unknown seller on the 17th August 2021 for 49.5 Ethereum valued at the time of purchase at $149,939. The on-chain data shows that the seller only the purchased the token a few weeks ago for the substantially lower price of 21.75 Ethereum (around $50,000 at the time)

However the price of this sale is not the reason it has become headline news, after all Cryptopunks regularly sell for amounts exceeding $1m, with the record sales price currently sitting at $7.58m, a figure paid for Cryptopunk #3100 back in March 2021. The excitement surrounding this sale stems from who the buyer is. Many believe Visa has just legitimized NFTs and brought them to the attention of the corporate
world

CryptoPunk #7610 purchased by Visa
Cryptopunk #7610
In the spotlight

Cryptopunk 7610

One of 10,000 Cryptopunks created back in 2017 and widely regarded to be among the most significant and sought after collections of NFTs

Purchase Date: Aug 18, 2021
Purchase price: 49.50Ξ ($149,939)

View on-chain: Larva Labs 

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