20/08/2021 PUNKS Comic: What You Should Know About This Surging NFT That's Attracting Venture Capitalist Money

 
 

Volume and demand for non-fungible tokens have been surging. One project that is climbing up the leaderboards is PUNKS Comic, an NFT comic series drawn by Marvel and DC Comics artist Chris Wahl.

A burning mechanism, new NFT launch and more items for PUNKS are attracting venture capitalists to the NFT.

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What Happened: Loup Ventures, a research-driven venture capitalist firm known for bullish calls on Tesla Inc (NASDAQ: TSLA), Apple Inc (NASDAQ: AAPL) and other technology stocks shared thoughts on NFTs and the hype of PUNKs in a weekend email.

“Anyone who bought a PUNKS Comic in early July is up over 4x in Ethereum (CRYPTO: ETH) terms and more in fiat given the appreciations of ETH,” Loup managing partner Doug Clinton said.

Clinton saw PUNKS Comic as a “no brainer” investment for NFTs because of the NFT boom and the potential of the project.

“When an NFT creates a return stream to the owner, the NFT can be valued on tangibles rather than intangibles.”

Clinton compares valuing an NFT such as PUNKS similar to buying a share of Apple based on a valuation of future earnings instead of YOLOing AMC Entertainment Holdings Inc (NYSE: AMC) based on it being a “meme stock.”

PUNKS Comic was launched by Pixel Vault and in May could be minted for 0.2 ETH, or around $720 at the time.

“That may seem like a lot for a comic but not when you consider the future cash flows it could generate,” Clinton said.

Pixel Vault builds a mechanism that provides future assets for the owner. Owners of PUNKS can stake or burn their comic after purchase. Staking a comic gets a user $PUNKS tokens over a 24 month period and fractional ownership of 16 CryptoPunks valued at 600 Ethereum when the comic launched.

Users who burn the comic get a Founder’s DAO, which gives ownership of $PUNKS tokens and other crypto assets.

In July, a new NFT project called Metahero was announced by Pixel Vault. Anyone who owns a PUNKS Comic can purchase a Mintpass that can be exchanged for a future Metahero.

Arts

https://finance.yahoo.com/news/punks-comic-know-surging-nft-155159502.html

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