Lamborghinis were considered the main “flex” for high status crypto investors” as token prices reached astronomic valuations. Several high-profile cryptocurrency veterans made it a habit of arriving at conferences behind the wheels of exotic supercars and “when Lambo” was a popular refrain in the industry.
These days NFT are arguably the main topic of conversation in the crypto space, and ownership of expensive PNGs to be displayed on social media profile pictures is the new status symbol.
Chinese crypto journalist Colin Wu reported that internet bigwigs in the country are among some of the latest to join the NFT hype. Cai Wensheng, founder of smartphone maker and photo touch-up app Meitu, has reportedly purchased CryptoPunk for about $387,000.
Indeed, CryptoPunks, perhaps the most popular NFT collection in the market, has been gaining even greater popularity even outside the crypto space. Card payments giant Visa recently purchased CryptoPunk for about $150,000.
Budweiser also recently purchased a $120,000 fan art as well as the Beer.eth domain in what appears to be a growing appeal for NFTs. Social media giant Facebook has also said that is “definitely looking” at NFTs as part of the development of its crypto wallet product, Novi.
