TPunk NFT on TRON Network Sells for $10.5 Million
Tpunk NFT sold to TRON founder Justin Sun for 120 Million TRX equivalent to $10.5 million US Dollars.
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Tpunks are the first generative NFT art collection on TRON, and were inspired by the original “CryptoPunks” built on Ethereum in 2017, which regularly sell for millions of dollars.
This unique “Joker” tpunk is part of a collection of 10,000 computer generated punks each with random traits, and the Joker is one of the rarest in the collection.
The Joker was last sold for 6,900,000 TRX equivalent to $620,000. Sun’s $10.5 Million is by far the most anyone has paid for an NFT on TRON, and the 2nd most anyone has ever paid for a CryptoPunk-style art.
The most is $11 million paid for an original CryptoPunk on Ethereum.
Some are speculating that Justin Sun, and APENFT, the DAO which he leads, are going to be buying more NFTs on TRON.
After the correction in cryptocurrency prices on Tuesday, Justin joked on Twitter:
APENFT and the developers of the Tpunks smart contract have inked a “strategic partnership.”
The partnership includes investing and launching more tpunks, leveraging APENFT auction house resources, and expanding tpunk’s presence.
APENFT will also use profits earned from the partnership with Tpunks to buy back and burn their $NFT governance tokens.
Many speculators now think that APENFT and Justin Sun are going to become partners with other TRON based NFT projects such as TronRocks, Bored Ape Tron Club, TronMeebits, Kraftly, Tron Clouds, and others.
These partnerships could include investing in the NFTs and the developers, utilizing auction house resources, and boosting the NFT’s presence.
This in turn will benefit APENFT and their $NFT governance tokens because they can use profits earned from the partnership to buy back and burn $NFT governance tokens.
NFT Collectors believe that these very early TRON NFTs will become even more rare and in demand as the NFT boom continues to spread to the TRON Network over the next several years.
TRX now has its first OpenSea-like platform called Kraftly.io, so we could begin to see an explosion of NFTs being issued on TRON in the coming months.
Tpunks have been regularly selling for $1000-$5000 since Justin and APENFT made their purchase.
One was recently sold to TheFanDAO for over $50,000 and is planned to be used in a promotional giveaway.
TronRocks also have a floor price of $20,000 and some have already sold for that price.
Many collectors think this indicates that these NFTs are here to stay and will have long-term value as being some of the very earliest NFTs issued on TRON.