A press release of a couple of days ago announced Visa, the credit card behemoth, had just spent $150,000 to purchase one NFT, a crypto punk.
Sales of NFT’s in July totaled $1.2 billion, while sales for through the first three weeks of August are just shy of $900 million with the number of sales of NFT’s exceeding 50,000 per week.
.This is an exploding market sector. It’s going to get bigger.
- “Visa said Monday it bought a “CryptoPunk,” one of thousands of NFT-based digital avatars, for nearly $150,000 in ethereum.
- “An NFT — which stands for non-fungible token — is a unique digital asset designed to represent ownership of a virtual item.
- “Cuy Sheffield, head of crypto at Visa, said NFTs will play an “important role” in the future of retail, social media and entertainment.”
John Truman Wolfe