Hyperliquid’s Hypurr NFTs, which debuted last week, now hold a massive $300 million market cap. This rise in value is driven by a clear market expectation. The NFT is widely believed to act as a high-value loyalty pass for future Hyperliquid rewards and key benefits.
The entire collection consists of 4,600 unique digital assets. Notably, 4,300 of these assets were given to Genesis participants. These were Hyperliquid users who signed up for the initial Genesis Event back in November 2024. At that time, those users simply had the choice to claim the special commemorative Hypurr NFT.
It is interesting to note that some users actually decided to skip the NFT during the registration phase. They were worried that accepting the asset would somehow weaken a future token airdrop.
That initial fear, however, proved to be completely false. Now, the NFT has quickly become one of the most profitable airdrops ever seen in the crypto space.
Near the time of its official launch, the floor price for a single Hypurr NFT was approximately $50,000. In the single week that followed, the price showed strong growth, peaking at about $81,000.
As of this report, the collection’s floor price holds firm at $65,700, placing it among the most valuable digital collectibles on the market. It now ranks fifth by market cap, behind CryptoPunks, Pudgy Penguins, Bored Ape Yacht Club, and Infinex Patrons.
This high value is directly tied to the collection’s scarcity, as many investors firmly believe that Hypurr will carry ongoing benefits for its dedicated holders.
It is widely thought that the NFT will function as an essential on-chain ticket for rewards. This includes targeted ecosystem incentives and special future airdrops from the platform.
Consequently, Hypurr serves as a loyalty credential. It offers verifiable proof of early participation in the Hyperliquid platform’s genesis.
If Hyperliquid continues to add more utility, the NFT will become crucial. It will act as a key tool for efficiently distributing rewards and retaining the most dedicated users.
Therefore, the NFT’s current market value is a strong bet on its future. It is a high-signal distribution channel for project rewards. The rocketing market cap shows people strongly believe in this simple future benefit.
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