A new market is popularizing the partial purchase of an exciting piece of cryptocurrency. The term ‘CryptoPunks’ is sure to pop up when you talk about immutable tokens (NFT Coin). For those outside of this cycle, let’s point out that these are a collection of 10,000 pixel ‘punk’ faces that have been circulating in the art circles since last year, each unique, each with a different feature.
One of the first NFT coin projects minted on the Ethereum Blockchain: CryptoPunks
Don’t be fooled by the looks of CryptoPunks. Cryptocoin. com, as those who follow the news will know, according to data from NFT marketplace OpenSea, the ‘cheapest’ vagrant is between 25-29 ETH. It’s selling if they’re over $80,000, where someone will see an odd price to invest their money in. But the charm comes not from the punks themselves, but from the history behind them. CryptoPunks was one of the first NFT coin projects minted on the Ethereum Blockchain (launched in 2015).
This means that CryptoPunk owners, when they pay big money for a vagrant, are actually betting on having a background on the Ethereum network. And while having a past isn’t all that cheap anymore, a market hopes to fix it. CryptoPunks have been tagged in this market so that many potential punk fans can buy all the punks outright.
CryptoPunk with Mustache #543 for grabs
Otis, a tick-borne exchange, allows users to buy and sell shares of fiat assets such as sports cards, video games, memorabilia and, more recently, NFTs. It now offers fractional investment opportunities in NFTs. According to a post shared with CryptoSlate, Otis allows multiple investors to participate in a single asset, and CryptoPunk is falling under the hammer for such regulation.
The company allows investors to partially purchase CryptoPunk #543, one of the first 1,000 NFTs ever minted, with prices starting at $1. #543 is particularly rare as it includes three attributes: 288/10 only. Contains a mustache found in 000 punks.
‘Shares’ #543 pictured above were previously offered to investors for a total price of $51,000 and sold in less than 3 minutes. The stock will open for trading later this month, allowing existing investors to sell shares and new investors to get into the NFT coin craze.