Tron founder Justin Sun has just announced that he purchased a $10.5 million NFT avatar. The NFT is called "Joker" due to its appearance and is now part of a Tron-native NFT series that is called Tpunks which seeks to emulate both the style and success of the known Cryptopunks series on the Tron blockchain.
Tron Founder Collects 'Joker' NFT #3442
Tron is a smart contract-enabled cryptocurrency and according to the story by News.Bitcoin.com, the NFT that was purchased was known as #3442 but more referred to as the "Joker" ostensibly due to its stunning resemblance to the popular Batman villain being part of the whole Tpunk series. The announcement was made on Twitter.
Tpunks is known as a collection of NFTs that are seeking to recreate the art style of yet another very successful line of NFTs that are on Ethereum called Cryptopunks. The Tpunk series reportedly features 10,000 avatars that all have some uniquely rare traits making them desired by certain collectors.
NFT Projects are Picking Up Steam
The project is now picking up steam and has reportedly climbed all the way to fourth place rank in collectible dapps during the time of writing, according to DappRadar. The prices of these extremely rare NFTs on the platform have also started to spike with some of them offering over $800K.
This isn't really Justin Sun's first foray into the whole NFT market. Sun was reportedly an active bidder on Christine's sale of Beeple's "Everydays: the First 5,000 Days" NFT. Sun reportedly made a bid of $60 million in order to acquire the asset but was still outbid by $250K by a particular unknown buyer at just the last minute.
NFT Collectors Start to Pop
NFTs, or non-fungible tokens have started to get more and more popular recently with things like NFT games popping up left and right. Justin Sun isn't actually the first to dive in as a number of other influencers, actors, and even rappers have decided to get into the NFT space and take advantage of this particularly new type of media.
Even Jay-Z himself, the famous rapper, partnered with Sotheby's in June in order to auction an NFT that was inspired by his "Reasonable Doubt" album and was called "Heir to the Throne." The musician had also changed his Twitter profile to show a Cryptopunk making his followers believe that he had actually purchased one.
Read Also: $SOL Jumps to Top 10 Cryptocurrency Spot as $DOT Drops from the List
NFT Fever Grows Stronger
A number of other projects have reportedly sold millions of dollars in NFT. One of these main projects is Cryptopunks which surpassed $1 billion in sales just recently. It is the third NFT-based project to reach that number shortly after the NFT game "Axie Infinity '' and Opensea.
The NFT fever has even reached official institutional markets. Visa, a known multinational payments giant had just purchased CryptoPunk #7610 in order to add to its collection on August 23, 2021, while calling NFTs a "new era" of collecting.
Related Article: Crypto Whale 'Mr. Whale' Warns of Tether and USDC Halting Prints | Advises Hodlers to Take Profits and 'Mute Those Moon Boys'
This article is owned by Tech Times
Written by Urian B.
