On Sunday, early users of the perpetuals-focused layer-1 blockchain Hyperliquid received substantial rewards when the Hyper Foundation launched the much-anticipated Hypurr non-fungible token collection.
As of now, the Hypurr NFTs have a floor price of approximately 1,458 Hyperliquid (HYPE), equating to around $68,700 based on OpenSea data.
There have, however, been remarkable sales exceeding that amount. The Hypurr #21 NFT, featuring the exceptionally rare “Knight Ghost Armor” and “Knight Helm Ghost” traits, was sold for 9,999 HYPE, amounting to $467,000 on Sept. 28.
Prior to launch, demand surged to such a degree that certain NFTs traded for as much as $88,000 via OTC desks earlier this month, according to DripTrade data.
These transactions were facilitated by DripTrade’s OTC system, allowing buyers and sellers to agree on a fixed sale price before the launch. Sellers are required to complete the trade within seven days after receiving the NFT, or forfeit the collateral put forth in the agreement.
In the context of a worldwide cost-of-living crisis, the novelty of receiving a digital cat image for free—valued higher than some people’s yearly salaries—was significant for the crypto community.
“CT is really a special place in hell. Average person struggling to get by or buy groceries and you have people posting their $50,000 hyperliquid cat NFTs they got for free,” commented X user MoonOverlord.
Related: Vesting NFTs lead daily sales volume chart: CryptoSlam
DidiTrading remarked: “Received an Hypurr NFT valued at $50k. I’m usually not adept at valuing these things, so I will let the market determine an equilibrium before deciding what to do with it.”
Are Hypurr NFTs poised to dominate the market?
The Hypurr NFTs were launched on the HyperEVM on Sept. 28 and feature cartoon cat avatars with various traits.
These NFTs were mostly distributed to the most active participants in the “Genesis” event held in November 2024, centered around the launch of the HYPE token.
In total, there are 4,600 NFTs, with 4,313 allocated to Genesis event participants and the remainder distributed among the Hyper Foundation and key project contributors, according to a Sept. 28 post on X.
“The aim of the Hypurr NFT collection was to provide a token of appreciation to those who believed in and contributed early to Hyperliquid’s development. Each NFT is unique, reflecting the various moods, hobbies, tastes, and quirks of the Hyperliquid community as represented by Hypurr,” the Hyper Foundation post stated.
In terms of the 24-hour trading volume, OpenSea data indicates that 952,000 HYPE have been exchanged, approximately worth $44.6 million at current prices.
Magazine: ETH co-founder moves $6M of ETH, crypto index ETF expands: Hodler’s Digest, Sept. 21 – 27
