Visa invests USD 150,000 in NFT CryptoPunk assets

Credit card giant Visa acquired CryptoPunk for $150,000, a digital art collective that pioneered mainstream culture in this field in 2017, and caused a huge sensation in its entry into the field of non-fungible tokens (NFT).

In one Blog post In the announcement made on Monday, Cuy Sheffield, the head of Visa’s cryptocurrency who claims to be an NFT enthusiast, shared his views on the value of buying NFT assets in the digital economy, the huge market growth in the past few years, and Visa’s business incentives for this investment Measures.

Sheffield stated: “In order to help our customers and partners participate, we need to have a first-hand understanding of the infrastructure requirements for global brands to buy, store, and utilize NFTs.”

“The ability to track and utilize digital assets in multiple environments may mean exciting new opportunities in ticketing, game music, art, etc.,” he continued.

Visa purchased CryptoPunk 7610-a female figure with a mohawk, clown green eyes and lipstick-it was first claimed on June 23, 2017, a month later for the first time for a negligible amount of 0.6 ether (Ethereum) ($114 at the time).

Using the native open ledger feature of the blockchain, you can see that Visa’s newly acquired assets are Buy It was 49.50 ETH on Wednesday, which is equivalent to US$149,939.

This considerable investment in the NFT market stems from Visa’s pursuit of the cryptocurrency market.Its crypto-centric credit and debit cards Reportedly processed an impressive $1 billion Throughout the first half of 2021.

The NFT market witnesses parabolic growth Throughout 2020, the historic auction of Beeple’s artwork “Everydays: The First 5000 Days” ended. Put forward Christie’s auction house exceeded $69 million.

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With the progress in the second half of 2021, the momentum in this field seems to increase again.Heavyweight Boxing Legend Mike Tyson A series of tokenized collectibles were recently released on OpenSea.

According to recent Numbers, The platform has processed more than 1.18 million transactions in the past 30 days, valued at US$1.06 billion, an increase of 12,000% by 2021.

Summarizing his comments on CryptoPunk, Sheffield said: “We are a company steeped in the history of business and payments-but we are focused on the future. After purchasing CryptoPunk, we first have to jump up. It’s just that we work in this field. The beginning.”