NFT Tulips Sell Out In Less Than 3 Hours, $27,000 The Highest Price

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Opensea, one of the first and largest non-fungible token marketplaces has sold out its entire NFT Tulips collection in 2.5 hours, with the highest price of $27,000. More than 50 items were available on the website, with a floor price of 8 ethereum.

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NFT Craze

According to Opensea, the collection paid homage to the 16th century investors who risked it all to make a fortune on tulip bulbs upon soaring demand.

“Each Tulip is named after a famous Dutch figure. Tulips 1-10, 11-20, 21-30, 31-40, and 41-50 contain tenths of a secret unlockable message.”

The platform had a special offer: “Piece 10 of these messages togethereum and send us a picture of you or a friend in the unlocked location for a special edition SHINY TULIP! Only 5 SHINY TULIPS will be minted.”

Opensea offers more than 18 million NFTs in both U.S. dollars and ethereum, with the most expensive ones hitting 5,000 ethereum or $16 million –among them, a set of Henry Ford quotes and a “crypto mahjong.”

By volume, the highest-ranking collection is CryptoPunks worth 33,131 ethereum or $105 million according to website information in the last 24 hours.

Jumping In The NFT Bandwagon

As reported by CNBC, Visa Inc (NYSE:V) announced Monday the purchase of a CryptoPunk for roughly $150,000 or 46 ethereum.

“We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce,” said the head of crypto at Visa, Cuy Sheffield.

“To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.”

Sheffield goes on to say that the NFT acquired by Visa has become a cultural icon for the crypto community, and “With our CryptoPunk purchase, we’re jumping in feet first … This is just the beginning of our work in this space.”

Non-fungible tokens have drawn a good deal of skepticism since buyers acquire only a digital certificate of ownership and not the item itself. Hence, people from all over the internet can view the media with some even “stealing other artists’ work and gone on to sell them as NFTs.”

Auction house Christie’s set a record in March when a picture by artist Beeple sold for $69 million.