THELOGICALINDIAN - It has been over 4 years back the nonfungible tokens NFTs accumulating accepted as CryptoPunks were launched but they are still hot in the bazaar Per a Wu Blockchain address Chinese internet investors are jumping into the NFTs craze
The architect of Meitu, a Chinese technology company, Cai Wensheng, and addition broker called Feng Bo bought two CryptoPunks for millions of dollars.
Wu Blockchain appear that Wensheng acquired CryptoPunk #8236 for 125 ETH. Bo paid decidedly abundant added for CryptoPunk #7252 for 1600 ETH or $5,33 million, at acquirement time.
The aggregation founded by Wensheng, Meitu, was one of the aboriginal about traded companies in China to bet big on cryptocurrencies. The aggregation allegedly purchased ample quantities of Bitcoin and Ethereum.
However, they assume to be added bullish on the additional cryptocurrency by bazaar cap has accepted by their advance in ETH. Its architect affiliate affairs one of alone 10,000 CryptoPunks seems to be addition assurance of the company’s affect appear Ethereum.
Meitu is one of the companies operating in China accommodating to advantage the NFT fever. International brands, such as Dolce & Gabbana, Facebook, Audi, and abounding others are already complex or exploring this market.
A few canicule ago, Chinese behemothic Alibaba launched its own NFT marketplace. This will acquiesce millions of nationals to cascade added money into an already admired sector.
The Alibaba NFT belvedere additionally seeks to acclimated blockchain technology to abate the absorb affair in the country via a new mechanism. This should account creators, consumers, and the absolute industry creating added incentives for beginning basic to embrace NFTs.
In And Out Of China, Big Money Bet Big On CryptoPunks And NFTs
As Bitcoinist reported a few canicule ago, acquittal behemothic VISA purchased additionally fabricated a bet on the CryptoPunks collection. The aggregation purchased CryptoPunk #7610 for $150,000.
The NFT bazaar is growing, and the aggregation believes that this asset could be arch the crypto ecosystem with VISA’s all-around network, the Head of its crypto analysis Cuy Sheffield said.
In time, the aggregation expects every above association to access the NFTs and potentially CryptoPunks to “express their cast identities”.
The Chinese and all-embracing absorption for NFTs could be accurate by a all-around “wealth bubble”, as Meltem Demiros, CSO at advance close CoinShares, said via Twitter.
Data provided by Demiros indicates that the affluence appurtenances bazaar is on the rise. NFTs are one of the items acclimated by the wealthiest to “flex” and appearance their status.
In addition, the new ancestors assume to appetite these agenda assets. As Demiros argued, the “digital consumers” seems to accept a aftertaste for deficient items that accommodate added opportunities and applications:
At the time of writing, Ethereum trades at $3,112 with a 3.6% accident in the circadian chart.
