Visa has purchased a CryptoPunk non-fungible token for $150,000.
In Brief:
The payments business has purchased the asset for $150,000 in Ethereum.
CryptoPunk 7610 is one of 10,000 unique digital characters available on Ethereum blockchain.
NFTs accounted for $1bn in payment volume in August.
What does this mean?
Visa says the reason it has purchased an NFT is because it believes they will “play an important role in the future of retail, social media, entertainment and commerce” and it wants to explore how this works.
