Non Fungible Tokens (NFTs) are being touted as the next big thing to follow the current DeFi boom. While NFTs are capable of performing many functions, it is currently the digital art and collectible varieties that are leading the charge.
Record high volume is being posted at the likes of Ethereum art platform SuperRare and NFT marketplace OpenSea, showing the interest in the space is clearly on the increase.
Hey Punk
Two recent sales highlight the value placed upon art pieces based upon their scarcity.
While maybe lacking the artistic merits of a Cubist Satoshi or The Lost Vitalik, a unique CryptoPunk and the very first CryptoKitty - yes, those infamous moggies that clogged the Ethereum network back in the day - are demanding high prices.
The CryptoPunks are a fixed set of 10,000 and were launched in mid-2017.
The CryptoPunk in question is described as a Zombie wearing a Beanie but goes under the official moniker of Wrapped CryptoPunks 4513 and it sold this month for an impressive 185 ETH (which at current prices is over $64,000).
Perhaps not surprisingly, the size of the sale was greeted by surprise in some quarters.
Here Kitty Kitty
Not to be out done by a punk in a hat, aficionados of the feline NFT variety proved their support for CryptoKitties by bidding up the price for the original to 200 ETH (Around $70,000 today).
Random Ponder for the Day
$64k for a Beanied Punk or $70k for the Genesis Cat - which one would you go for?
