In Brief:
- Pioneer Media Holdings Inc. (“Pioneer” or the “Company”) has purchased CryptoPunk 8869.
- With this purchase, Pioneer will become the first true listed Web3 investment company in the domain of NFT gaming and assets
As per reports, Pioneer Media Holdings Inc. (“Pioneer” or the “Company”) has purchased CryptoPunk 8869.
The accessories included would be blue bandana, muttonchops and regular shades.
Pioneer has secured CryptoPunk 8869 for 100.25 ETH ($433,703.58).
Mike Edwards, the CEO of Pioneer said, “We are excited about Web3. The real question is how do you dive in? We looked for guidance from the community. Answer = Step 1 is buy a JPEG!”
With this purchase, Pioneer becomes the first true listed Web3 investment company in the domain of NFT gaming and assets keeping in mind its success in mobile gaming (LEAF), eSports (GILD/Dynasty/Paidia) and its foundational investment in NFT Investments. It is also expected that Pioneer will invest and secure the best brands, teams and assets in the space.
As per the Company, Web3 is otherwise referred to as the ownership economy because the token economic models honour participation and creativity. Thus, the approach of investments here, is more of a community-based as opposed to investing in a traditional company; which is why Pioneer got hold of the most iconic collection to date, the CryptoPunk.
NFTs are quite popular in private markets. In the past month, SoRare and Dapper Labs have raised US$680M at a US$4.3B valuation and US$250M at a US$7.6B valuation respectively. Also, Axie Infinity developer Sky Mavis and Animoca respectively raised US$152M at a US$3B valuation and US$65M at a US$2.2B valuation.
Thus, pointing to a +US$1B in fresh capital at a combined market cap of +US$17B for four NFT privates in under a month. NFT sales in Q3 hit US$10.7B up from US$1.3B in Q2 and from US$28M in the same quarter of 2020
On the other hand, meme stocks are popular in public markets. In 2021 ‘Meme stocks’ like GameStop and AMC were completely transformed thanks to “the retail investor fever” fired by the Reddit memes. As a result, GameStop raised ~US$1.1 billion after surging +1,200% and AMC raised ~US$1.2 billion driven by the share price appreciation through Reddit memes.
Pioneer is the first publicly traded issuer that dynamically invests in a ranging portfolio of early-stage to mid-level companies in Web3 including NFTs and NFT gaming, together with investments in e-sports, and mobile gaming. Pioneer also leverages its global network to democratize the reach of investments that are not usually available to the retail investor community.
Pioneer has successfully blended the meme stock and NFT element by becoming the first publicly tradable company to include a CryptoPunk and also allow for fractionalized equity ownership of that CryptoPunk. Because of the equity ownership in Pioneer, investors will become fractional owners of Punk 8869, a first of its kind in public markets.
As for CryptoPunks, they are one of the elite NFT status symbols in crypto .Also , lately they have been in the news quite a lot. For instance, in October, a CryptoPunk owner refused a US$9.5 million deal for his asset. Moreover, a four year old CryptoPunk 1422 was just sold for US$2 million, and recently a half a billion dollar transaction enabled by a flash loan for Punk 9998. Last week, a CryptoPunk NFT was mistakenly sold For 4.444 ETH.
