Assessing how and why CryptoPunks is not out of the game yet
The general market recovery has been a major talking point since we wrapped up the first week of August. This theme is further prevalent in the NFT market which has seen “bluechip” collections reaping the rewards. However, CryptoPunks stands out as the leading collection during the bear market.
The collection has been a regular fixture at the top of CryptoSlam’s sales volume chart for many days. In fact, CryptoPunks has also ramped up social engagement in recent days after a couple of updates.
American luxury jewellers, Tiffany, announced a stunning bit of news on 1 August. It announced the launch of 250 NFTs exclusively for CryptoPunks holders. These so-called NFTiffs allow select users to transform their NFTs into a “bespoke pendant handcrafted by Tiffany & Co. artisans.”
Interestingly, each NFT was set a cost price of $50,000, which was sold out within 20 minutes of the launch.
<p lang=«en» dir=«ltr» xml:lang=«en»>We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
In other news, KuCoin CEO Johnny Lyu announced the release of “hiPUNKS” on the trading exchange. This new NFT ETF represents 1/1,000,000 CryptoPunks in an on-chain swap pool powered by the Fraction Protocol. The initial total supply is marked at 6,000,000 HIPUNKS.
These developments have ramped up social activity for CryptoPunks during this week. According to LunarCrush, social engagements for the collection have surged by 270% to reach 197.85 million. The social
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