Hyperliquid Distributes Hypurr NFTs to Early Users, Floor Price Hits $68,900

TLDR

• Hyperliquid distributed 4,600 Hypurr NFTs to early users on Sunday, with floor prices reaching $68,900
• One rare NFT (#21) with Knight Ghost Armor traits sold for $467,000 (9,999 HYPE tokens)
• The collection generated $45 million in trading volume within 24 hours of launch
• 4,313 NFTs went to Genesis event participants from November 2024, with remainder to foundation and developers
• Some NFTs were pre-sold via OTC desks for up to $88,000 before official launch

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The crypto world witnessed another life-changing airdrop on Sunday when Hyperliquid distributed its Hypurr NFT collection to early platform users. The free digital cats have created instant wealth for recipients, with floor prices soaring past $68,000.

Hyperliquid, a perpetuals-focused layer-1 blockchain, delivered on its promise to reward early adopters. The Hyper Foundation released 4,600 unique cat-themed NFTs on the HyperEVM mainnet. Each NFT features cartoon cat avatars with different traits, moods, and characteristics representing the Hyperliquid community.

The collection launched with explosive trading activity. Within 24 hours, OpenSea recorded 952,000 HYPE tokens in trading volume, equivalent to approximately $45 million. The floor price quickly established itself at 1,463 HYPE tokens, worth $68,930 at current market rates.

Source: Opensea

Record-Breaking Sales Drive Market Frenzy

The most expensive sale came from Hypurr #21, which featured extremely rare “Knight Ghost Armor” and “Knight Helm Ghost” traits. This NFT sold for 9,999 HYPE tokens, translating to $467,000. The sale represents one of the highest individual NFT transactions in recent months.

Even before the official launch, demand was so intense that some NFTs changed hands through over-the-counter deals. DripTrade’s OTC system facilitated pre-launch sales for as much as $88,000. These transactions allowed buyers and sellers to agree on prices before launch, with sellers required to fulfill trades within seven days or forfeit collateral.

The distribution method tied directly to Hyperliquid’s Genesis event in November 2024. During this event, users could opt in to receive NFTs when the platform launched its native HYPE token. The allocation breakdown shows 4,313 NFTs went to Genesis participants, 144 to the Hyper Foundation, and 143 to developers and artists.

Community Reactions Split on Instant Wealth

The massive valuations sparked mixed reactions across crypto social media. Some users expressed disbelief at receiving digital assets worth more than annual salaries for free. User MoonOverlord commented on the stark contrast between people struggling financially and others receiving $50,000 NFTs at no cost.

Other recipients took a more cautious approach. Trader DidiTrading announced plans to wait for market equilibrium before deciding whether to sell their $50,000 valued NFT.

The Hyper Foundation described the collection as a memento for early believers in Hyperliquid’s vision. According to their official statement, each NFT captures unique aspects of community members’ personalities and interests through the Hypurr character design.

Trading activity remained intense throughout the launch day. The collection’s rapid price discovery and high volume suggest strong demand from both collectors and speculators. OpenSea data confirms the sustained interest with consistent transaction flow across various price points.

The foundation has not guaranteed specific utility for the NFTs. Their terms explicitly state that while NFTs may be associated with certain benefits or features, no utility is promised. This disclaimer hasn’t dampened market enthusiasm for the collection.

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