Visa, one of the most valuable companies in the world in terms of market capitalization, announced that it has purchased a non-fungible token (NFT) from the Cryptopunks collection. Visa’s official message-based Twitter account told its 114,000 followers that he paid 49.5 ethers ($ 165,000) for the Cryptopunk # 7610.
Visa believes in trading non-fungible tokens
On August 23, the American multinational financial services company headquartered in California announced that the company had bought a cryptopunk to add to the company’s “collection”. Visa noted that it has long been a collector of rare and historical items and believes that non-fungible token-based trading has ushered in a “new era” of collecting.
“Over the past 60 years, Visa has built a collection of historical trade artifacts – from early paper credit cards to zip-zap machines,” tweeted Visa News on Monday. “Today as we enter a new era in NFT commerce, Visa welcomes Cryptopunk # 7610 to our collection.”
Visa & NFTs: “Engaging Today’s Fans in Crypto”
Cryptopunks is the third largest project of the week in terms of sales. Statistics show that Cryptopunks made $ 28.1 million on 168 sales in the past seven days.
“We support the creators, collectors and artists who drive the future of NFT commerce,” said Visa News on Twitter. “Are you curious about NFTs and how you can integrate them into your branding strategy? Check out the latest from Visa on crypto art rating and scaling, ”the Twitter account said, sharing a Visa article on NFTs.
The report, titled Engaging Today’s Fans in Crypto and Commerce, takes an in-depth look at non-fungible tokens and concludes that while trading is changing, NFTs could shape the future. “Commerce is evolving, and innovations like crypto and NFTs are likely to shape sports, entertainment and other communities in the future,” the Visa report highlighted. The Visa NFT report continues:
NFTs represent a deeper and more innovative way for fans to get involved and develop potential new revenue streams for businesses. However, there are many considerations to consider when integrating NFTs as this is a new space.
Visa News’ official Twitter account did not elaborate on what it meant to add Cryptopunk # 7610 to its “collection”. This could mean Visa owns more NFTs than the public is currently aware of. The NFT collector’s item Cryptopunk # 7610 currently belongs to the Opensea account called “Wrappedcryptopunks-escrow”.
Tags in this story
$ 165K, 49.5 ETH, 49.5 Ether, Crypto, ETH, Ethereum, financial companies, NFTs, non-fungible art, non-fungible tokens, VISA, Visa Cryptopunk, Visa NFTs
What do you think of the financial group Visa buying a six-digit Cryptopunk NFT? Let us know what you think on this matter in the comments below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.
Photo credit: Shutterstock, Pixabay, Wiki Commons, Cryptopunk # 7610, Visa-Logo,
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Comments are closed.