As the NFT market continues to heat back up, curious investors have been scrambling to get a piece of the action. For those who are not familiar with NFTs (Non-Fungible Tokens), they can be basically summed up as a digital item that is stored on the blockchain which makes it interchangeable and unique.
These can come in the form of pictures, videos, audio, etc. If you should hold one in your possession, just consider it as a rare and unique item.
A company that has been having a lot of success with NFTs in this recent “bull market” is CryptoPunk. They recently passed 1 billion in lifetime sales over the span of 4 years and more than 50% of their sales have happened this year.
It’s truly a remarkable journey since 2017. CryptoPunk literally has gathered some sort of a cult following with speculative investors capitalizing on their pop culture pieces.
Investors from all sorts have been dumping real cash into these crypto projects to see if they can get a more than favorable return.
Despite the rise in NFTs, it’s hard to predict how far it will continue, but at the moment it seems there is no stopping the NFT crypto train.
