Visa buys an NFT-based 'CryptoPunk' avatar for $150,000

CNBC reported that Visa paidaround $150,000inEthereum.

Ethereum is a cryptocurrency that made its debut in 2015.

AnNFTis a unique digital token, with most using theEthereumblockchainto digitally record transactions.

A digital asset, such as an image, video or tweet, is tied to the token.

Sheffield added, “With our CryptoPunk purchase, we’re jumping in feet first.

This is just the beginning of our work in this space.”