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Crypto Payments Company Moonpay Buys A Cryptopunk NFT For $3 Million By BTC Peers

by Mike Robinson

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Crypto Payments Company Moonpay Acquires A Cryptopunk FT For $3,000,000

MoonPay, an online trading platform for cryptos and digital assets, allows you to buy and sell them. This platform, which was launched in 2019, is well-known for its ease of trading cryptos and fiat via debit and credit cards. It also works with other payment systems like Apple (NASDAQ :)Pay and Google (NASDAQ 🙂 Pay. In its last year of Series A funding the company generated more than $555 million, bringing its value to $3.4B. Their interest in cryptocurrency isn’t limited to just the crypto world. Recently, they announced that piece #2681 was their entry into the NFT market. This CryptoPunk NFT, worth approximately $3 million, has been purchased by the company.

You can also read: All My Apes Gone (NYSE:) Twitter Users revel in $2.2M Bore Ape NFT Stealing

While MoonPay has been known to purchase NFTs belonging to popular NFT collection brand, Bored Ape Yacht Club (BAYC), according to data culled from popular crypto trading platform OpenSea, this recent purchase marks the platform’s second purchase of a CryptoPunks’ NFT. The data shows that the company had purchased piece #4222 from CryptoPunks about one month prior. The CryptoPunks NFT collection is one of the most sought-after in the NFT industry. CryptoSlam reports that CryptoPunks already has close to $1.9B in trading volume.

The purchase was carried out through MoonPay’s concierge service, which aligns with the firm’s NFT market strategy. MoonPay’s concierge service facilitates large NFT transactions for celebrities such as Jimmy Fallon and Snoop Dogg. The process of running the service includes purchasing NFTs for use and then delivering the items to the users. After the delivery, the user will be charged for the services provided. This latest foray of MoonPay into the NFT space has since generated lots of attention on the firm’s official website, and it is expected that the firm will carry out more transactions within the NFT space this year.

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