CryptoPunks Fraction Token Officially Launched On Gate.io

Key Points:

• CryptoPunks Fraction Token (IPUNKS) officially launched on Gate.io. This token is a USDT-based product that represents a fixed set of NFT assets.
• IPUNKS is an ERC-20 token, each token represents the ownership of 1/10000 of the target CryptoPunks in the Gate NFT library.
• In the future, Gate.io plans to support even more top-tier NFTs.

According to the official announcement, Gate.io announced the launch of its first NFT fragmentation token, CryptoPunks Fraction Token (IPUNKS).

Gate NFT fragmentation token is a new type of NFT product designed to help users hold and access it more easily top NFT works. Users can trade NFT fragmented tokens in the Gate.io spot trading section. This token is a USDT-based product that represents a fixed set of NFT assets. Its first online project is CryptoPunks.

The CryptoPunks are the 24×24-pixel, 8-bit-style unique avatar that is an NFT image, one of the earliest examples of NFTs on Ethereum and the inspiration for the ERC-721 standard. They are valued significantly on the NFT market and represent a novel kind of asset tokenization, often fetching millions of dollars.

There are 10,000 of these pixelated, punky-looking photos, which include images of both male and female figures as well as those that resemble zombies, apes, and aliens. Each punk is unique and is sometimes sold for very high prices by individual owners as well as at prominent auction houses like Christie’s and Sotheby’s.

The Ethereum NFT collection has generated more than $2.4 billion in trades when all sales are included. On the Ethereum network, only one person may be the owner of a CryptoPunk. The “punks,” as they are known, were initially given away by the developers before they gained popularity and value.

IPUNKS is an ERC-20 token, each token represents the ownership of 1/10000 of the target CryptoPunks in the Gate NFT library.

In the future, Gate.io plans to support even more top-tier NFTs.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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