Buoyed by an increase in sales, CryptoPunks hit a new milestone that places the project just below Axie Infinity when it comes to the all-time ranking of NFTs by volume.
As of April, the NFT collection yielded an overall sales volume of $2.2 billion, according to Be[In]Crypto research. This latest milestone placed CryptoPunks above some of the industry’s most successful NFT projects, including , MAYC, Art Blocks, NBA Top Shot, CloneX, Azuki, and VeeFriends.
Behind CryptoPunks’ soaring volume
Since January, the NFT project has grown substantially in total transaction counts, including a surge in unique monthly users, reaching 501 transactions and an approximate sales volume of $6.1 million.
As of March, the number of total transactions increased 187%, reaching around 1,400, leaving CryptoPunks with a sales volume of $98.5 million.
Looking back to August 2021, the NFT project reached a then new milestone of $679 million, with over 2,500 transactions.
Other promising months in 2021 included July ($135 million), September ($217 million), October ($158 million), November ($135 million), and December ($172 million).
As of Thursday, the NFT project had a floor price of around $175,000 (61.49 ETH). VeeFriends founder and VaynerMedia CEO Gary Vaynerchuk also revealed in a podcast episode with Logan Paul that he owns 62 CryptoPunks, estimating a $10 million+ valuation to his CryptoPunks collection alone.
“There’s probably not an investment I have that I’m more confident in than CryptoPunks,” he said. “VeeFriends [his NFT] has to execute perfectly for 15 years to even be in the conversation with CryptoPunks. [They] sit in a collectible art framework of being the thing that established the whole thing.”
