THE BIG STORY
As reported by protocol.com, CryptoPunks just became a billion-dollar business. The 10,000 low-res characters have now generated over $1.16 billion in total revenue and are being traded like precious art; in the time it took me to write this sentence, three bids were placed on three Punks for a total of about $1.5 million. And I’m pretty sure they all got outbid.
Punks are the biggest thing in NFTs, and NFTs just keep getting bigger. Games like Axie Infinity are proving that there’s a hefty overlap between blockchain economics and video games, while NBA Top Shot continues to discover new ways to get people to spend money on sports. Is the market crazy? Of course it is. It’s 2021. Everything’s crazy…