{"id":329178,"date":"2021-08-23T16:26:01","date_gmt":"2021-08-23T13:26:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/visa-invests-150000-in-nft-cryptopunk-asset\/"},"modified":"2021-08-23T16:26:01","modified_gmt":"2021-08-23T13:26:01","slug":"visa-invests-150000-in-nft-cryptopunk-asset","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/visa-invests-150000-in-nft-cryptopunk-asset\/","title":{"rendered":"# Visa invests $150,000 in NFT CryptoPunk Asset"},"content":{"rendered":"

“# Visa invests $150,000 in NFT CryptoPunk Asset <\/strong>”
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Credit card giant Visa has made a substantial splash on its emergence into the nonfungible token (NFT) space with a $150,000 acquisition of a CryptoPunk, the collective of digital artworks that pioneered the mainstream culture of the space back in 2017.<\/p>\n

In a\u00a0blog post<\/a> announcement released on Monday,\u00a0Cuy Sheffield, head of crypto at Visa and self-proclaimed NFT enthusiast, shared his views on the value of purchasing NFT assets in the digital economy, the vast growth of the market in the past few years, as well as Visa\u2019s commercial incentives in this investment.<\/p>\n

Sheffield claimed, \u201cTo help our clients and partners participate, we need a first-hand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.\u201d<\/p>\n

\u201cThe ability to track and leverage a digital asset in multiple environments could mean exciting new opportunities in ticketing, gaming music, art, and beyond,\u201d he continued.<\/p>\n

Visa purchased CryptoPunk 7610 \u2014 a female figure with a mohawk, clown green eyes and lipstick \u2014 which was first claimed back on June 23, 2017, and first sold a month later for a measly 0.6 Ether (ETH) ($114 at the time).<\/p>\n

Utilizing blockchain\u2019s native feature of an open ledger, one can see that Visa\u2019s newly acquired asset was purchased<\/a> on Wednesday for 49.50 ETH, equivalent to $149,939.<\/p>\n

This considerable investment in the NFT market comes off the back of Visa\u2019s pursuits in the cryptocurrency market. Its crypto-centric credit and debit cards\u00a0reportedly processed an impressive $1 billion throughout the first half of 2021.<\/p>\n

The NFT market witnessed parabolic growth throughout 2020, culminating with the historic sale of Beeple\u2019s artwork \u201cEverydays: The First 5000 Days,\u201d which\u00a0raised over $69 million at Christie\u2019s auction house.<\/p>\n

Related:\u00a0Got crypto? Here are 3 debit cards that let you spend your stack<\/strong><\/em><\/p>\n

As we progress through the latter half of 2021, it seems that momentum in the space is once again growing. Heavyweight boxing legend\u00a0Mike Tyson\u00a0has recently released a series<\/a> of tokenized collectibles on OpenSea.<\/p>\n

According to recent figures, the platform has processed over 1.18 million transactions worth $1.06 billion in the last 30 days, up by a remarkable 12,000% in 2021. <\/p>\n

Sheffield concluded his comments on the CryptoPunk by stating, \u201cWe\u2019re a company steeped in the history of commerce and payments \u2014 but with our eyes on the future. With our CryptoPunk purchase, we\u2019re jumping in feet first. This is just the beginning of our work in this space.\u201d<\/p>\n