Visa bought a CryptoPunk!
To the NFT world, Visa’s roughly $150,000 purchase of CryptoPunk #7610 on Monday looks a bit like grandma joining Twitter—it’s equal parts bizarre and inevitable. Here’s an institutional giant, over sixty years old, taking yet another awkwa
By Geoffrey Lyons
Published on Aug 25, 2021
Last modified on Aug 22, 2024
To the NFT world, Visa’s roughly $150,000 purchase of CryptoPunk #7610 on Monday looks a bit like grandma joining Twitter—it’s equal parts bizarre and inevitable. Here’s an institutional giant, over sixty years old, taking yet another awkward step into the burgeoning crypto space in what’s either a ploy to appear hip and in touch or a genuine effort to adapt.
Those who think it’s the former see Visa’s purchase as yet another addition to a long list of NFT marketing stunts. Those in the latter camp (typically diehard NFT enthusiasts), see the move as a concession to the inevitable takeover of all things crypto. Between these two poles are ordinary investors who simply feel vindicated for their own NFT purchases—if Visa bought one, then it’s not a crazy fad after all.