A Deep Analysis of the Value of Crypto Punk and REDHARE NFT INDEX Contract Launched by JPEX
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Since 2021 first half year, the total market cap of NFT sector started to explosively grow, and all kinds of NFT projects spring up. According to the data of NFTGO, the total market cap of the NFT sector is only USD 70 million in Jan 2021. While in Feb 2022, its market cap soared to the historical peak and broke through USD 35 billion, which means NFT took place the role of Defi and became the most popular investment vehicle in 2021.
Currently, NFT sector has evolved into various sectors, including PFP, arts, collectibles, games, real estate, photography, music, sport, etc. However, the market cap of PFP accounts up more than 60% of the total NFT sector, which means the fund is mainly invested in PFP assets.
Yuga labs became the empire of NFT sectors after it acquired the CryptoPunks: Yuga Labs tried to prompt the Otherside metaverse and vest new storytelling to PFP assets in the ecology. Recently, Noah Davis, the man responsible for NFT auctions at Christie’s will join Yuga Labs as the Brand Lead for CryptoPunks. This news provided a shot in the arm for PFP sector. Noah Davis said that he is feeling bullish about the future of CryptoPunks.
It’s hard for normal investors to directly purchase top NFT projects since they are too expensive. Blue-chip PFP projects such as CryptoPunks, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Moonbirds are undoubtfully the sky limit of the NFT sector. For example, the floor price of CryptoPunk is 65 ETH, while the floor price of BAYC is 84 ETH. NFT market needs an entrance to allow normal investors to participate.
Since 2022, especially at the end of Q1 and Q2, the growth of
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