Visa buys a a CryptoPunk non-fungible token (NFT) for USD 150k

Cuy Sheffield, Visa’s crypto lead, said the primary reason for the purchase was to have first-hand experience of the process through its work with partner Anchorage Digital, according to Ledger Insights.

Visa wants to partner with the community aiming to make NFTs usable and accessible, and to help businesses and brands mint and sell NFTs. However, that’s only a first step and Visa is working on ‘concepts and partnerships’ that will support NFT buyers, sellers, and creators.

The CryptoPunk bought by Visa was sold by ‘gmoney’, who acquired it less than a month earlier (July 2021) for a third of the price. The seller has spent 388 Ether (USD 1.3 million) buying Cryptopunks, including nine in the last month, the online publication added.