NFTs mad or what?

Someone just spent 1,600 ETH on “CryptoPunk NFT” which is equivalent to about $3.7 million.

CryptoPunks are among the oldest and most popular non-fungible NFT tokens.

NFT tokens are blockchain-based tokens that can be bought and sold as proof of file ownership on the Internet.

The CryptoPunks themselves are small, pixelated holograms that are meant to be used as avatars on social media platforms.

There are only 10,000 of these thumbnails, and each one comes with a random set of themes, some rare and more valuable than others.

We have already discussed in more detail about “CryptoPunks” on Bitcoin Arabs. You can return to the article from the link.

Who is Behind the $3.7 Million CryptoPunk NFT Purchase of Ethereum? To view this transaction, you can do so through “Etherscan”.

Without further suspense, the recent CryptoPunk NFT purchase is Gary Vaynerchuk.

“Gary Vaynerchuk” is a well-known 46-year-old entrepreneur from the USA and is one of the first investors in Uber, Snapchat, Facebook, Twitter and Tumblr…

Gary confirmed the purchase in a tweet yesterday:

Gary is a longtime fan of all things cryptocurrency.

Speaking with the source in May, Gary said his success in the NFT space would not be determined by quick cash grabs or quick investments, and added:

For me, success [with NFTs] is only achieved if I am able to implement over the next several decades to build true meaning

Gary’s bid of 1,600 ETH for “CryptoPunk #2140” is the fourth highest price paid for CryptoPunk.

The third highest value paid just a few hours later was 2,250 ETH ($5.4 million) for CryptoPunk #5217.

When asked to respond to critics who say he overpaid for some pixels, he responded by saying:

I have a lot of sympathy for people's curiosity or ridicule, but I have incredible confidence in this origin.

And I'm sure people have said the same thing about a Jackson Pollock painting at some point.

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