Forget Lambos, NFT is the new cryptocurrency status symbol

Just a few years ago, as the price of tokens reached astronomical figures, Lamborghini was the main “elasticity” of the cryptocurrency “Moon Boy”. Several high-profile cryptocurrency supporters have developed the habit of attending conferences in exotic supercars, and “when Rambo” is a popular adverb in the industry.

Nowadays, non-fungible tokens (NFT) can be said to be theme Conversations in the encrypted space and the ownership of expensive PNGs displayed on social media profile pictures are the new status symbol of “cryptorati”.

Chinese cryptocurrency reporter Colin Wu tweeted on Thursday Report The country’s internet giant is one of the latest members to join the NFT hype. According to reports, Cai Wensheng, the smartphone manufacturer and founder of the photo retouching app Meitu, purchased CryptoPunk #8236 (Ethereum)-About 387,000 US dollars.

In fact, CryptoPunks may be the most popular collection of NFTs on the market, and they are becoming more and more popular even outside of the encryption field. As Cointelegraph previously reported, Card payment giant Visa recently purchased CryptoPunk #7610 for approximately US$150,000.

Related: Executives said Facebook “will definitely follow” NFT

Budweiser recently Purchased 120,000 USD fan art And the Beer.eth domain, which is increasingly attractive to NFTs. Social media giant Facebook also stated that it “will definitely consider” NFT as part of the development of its encrypted wallet product Novi.

As of mid-August, the popular NFT market OpenSea has recorded more than Year-to-date transaction volume has increased by 76,000% In the current NFT hype. Play games to earn NFT games Just like Axie Infinity Internet traffic and governance token prices and other indicators.

Warnings about the possibility of a bubble in the NFT have also begun to circulate, with critics saying that the current hype is unsustainable. On the other hand, supporters say that NFT may be to Web 3.0 what social media and e-commerce are to Web 2.0.