Should We Fear The New Crypto Punks? Another successful endeavor in the field of non-financial technology (NFT). Came to a successful finish this week. Adding to the ever-growing list of successful projects in the industry. Speculation has arisen as a result of the viral popularity of the CryptoSkulls pixel art pfp project. Which is in addition to the CryptoSkulls NFT project. That it will eventually take the place of the Cryptopunks project. The CryptoSkulls project, a collection of 10,000 pixelated skull pixelated font NFTs. Which has piqued the interest of thousands of people in the last 24 hours. Has piqued the interest of an enigmatically large number of people.
Because of the announcement made on Friday by investor and celebrity entrepreneur Gary Vaynerchuk. Who claimed to have purchased a CryptoSkulls NFT for one hundred Ethereum. The internet has gone into an uncontrollable state of wild speculation.
Following Vaynerchuk’s statements on his prior NFT efforts. You shouldn’t be surprised by his decision to invest. In a network of cryptocurrency exchanges operated by CryptoSkulls. According to a statement from the Ethereum Foundation, a non-fungible token (NFT) project. Named CryptoSkulls made its debut in 2019 and was one of the first 10,000 non-fungible token projects. To arise on the Ethereum blockchain platform, which was launched in 2015.
Speculation among NFT enthusiasts and investors has been rife. Since Vaynerchuk announced his interest in the project. With some predicting that it will be the next to experience a spectacular increase. In value over the next several months. As a result of the project’s early adoption of the technology.
The CryptoSkulls initiative should we fear to came to light a few days ago
The CryptoSkulls project came to public attention for the first time a few days ago. When collector Medved revealed the project on Twitter after discovering it in the fall of last year. As of right moment, a CryptoSkull will set you back approximately 2 ETH or more. With prices averaging around that level for the majority of those currently offered on OpenSea.
When Vaynerchuk purchased his CryptoSkulls for 100 ETH. Which is around $300,000 USD at the time. He stated that some of the oldest NFT projects piqued his interest the most. Referring to them as “vintage.” With so many new projects entering the NFT arena in recent months. Older projects are gaining in value as collection objects. As a result of their increased visibility.
The NFT space is expected to become a place of everyday consumer use in the long run. With things like concert tickets, digital merchandise. And other collectibles being sold as NFTs. With the ability for instantaneous authentication and consumer rewards serving. As a major incentive for widespread adoption.
Today, investors are leveraging the space for collecting. Trading one popular project for another, with two large investors selling their Crypto Punks. For Cryptoskulls and more considering doing so in the near future.
The industry is primed for enormous investment
Without a doubt, the market is teeming with large investment prospects. That encourage NFT aficionados to keep hunting for the next big project. Currently, pfp NFTs outsell single pieces of art sold on OpenSea. CryptoSkulls, which shares a large community and celebrity investors. With other successful projects like Crypto Punks and Bored Ape. Has quickly grown in trading volume and floor price to roughly 4 ETH.
Like other successful NFT ventures, the project gives holders full licensing rights.
Keep up with our blog to learn about new significant investor projects. The NFT industry is ripe for expansion, and major projects are regularly announced. With more people trading their Crypto Punks for CryptoSkulls. The 2019 project could be the next big one for investors.
Since the Twitter Live, the project has been one of OpenSea’s best sellers in the last week.