An advertising board featuring a CryptoPunk NFT (Photo by Dia Dipasupil/Getty Images)
The non-fungible token market broke records this week with 7-day sales volume hitting an all time high of $219.4 million (£157.9 million) on Tuesday.
Sales volume peaked at $49 million in a single day on Sunday on OpenSea, the world’s biggest non-fungible token (NFT) marketplace, making it the biggest day of trading since the platform’s launch.
Investment was largely driven by CryptoPunks, a digital art project consisting of 10,000 collectible characters, which has attracted $122 million in sales volume over the past seven days.
On July 30 a single CryptoPunks avatar sporting a beanie hat and gold chain fetched 2,250 ETH ($3.9m at the time of sale) making it the site’s third most expensive artwork to date.