The NFT Marketplace turned on the opening platform on Monday said it launched a $ 1 million reserve dedicated to buying “culturally related” unpaid tokens (NFT).
The Opensea kicked its NFT reserve by purchasing a piece of digital art from the cryptopunk collection – widely considered the first Ethereum profile collection (PFP) collection.
“To us, the associated NFT cultures are works that make an impact: creative, social, or technological,” Opensea Chief Marketing Officer Adam Holnder told cointelegraph. “They can represent a moment’s reference to NFT history, introduce a new artistic style, or derived from voices that have not been fully recognized.”
Opensea bought Cryptopunk #5273, and planned additional acquisitions. Holnder said the purchase decisions will be guided by a cross-functional team of employees and external counselor from the Digital Art World.
Onchain data Shut up Cryptopunk #5273 was purchased on August 25 for 65 Ether (Eth), which costs nearly $ 283,000, before moving to another purse address on Monday.
Created in June 2017 by Larva Labs, the Cryptopunks collection has a market cap of $ 2.1 billion, According to In NFTPRICEFLOOR.
While strategic reserves featuring fungible tokens such as Bitcoin (Btc), Ether (Eth), and Solana (Sol) became more popular in 2025, NFT reserves rarely without. They also bring additional risks to investors: NFTs are less fluid than fungible tokens and can be more difficult to sell in a market collapse.
The upcoming purchases will “happen in the coming months”, Holnder said. “It’s not a limited campaign, it’s a life collection that will continue to grow as space changes.”
Related: What is an NFT, and how does it work?
NFT Momentum slows down the first week of September
The The NFT sector showed signs of a comeback In recent weeks, according to data from cryptoslam, with sales between July and August from $ 115.4 million to $ 170.5 million. That momentum was cooled in September, with a weekly sale of $ 92 million.
Different crypto exchanges, including Bybit and Krakenand more major companies like Gamestopclosed their NFT markets amid the collapse of trading volume.
In May, the Opensea announced it is rolling a token trading platform In an effort to change its businesses. In April, the NFT Marketplace Magic Eden Crypto trading app slingshot got to undergo a similar pivot.
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