Are Hypurr NFTs the Comeback the Crypto Scene Desperately Needs in 2025?

• What Are Hypurr NFTs, and Why Do They Matter?
• How Were the Hypurr NFTs Distributed?
• The Early Market Frenzy: Numbers Don’t Lie
• The Utility Debate: Hype vs. Substance
• Could Hypurr Spark an NFT Revival?
• HYPE Token’s Role in the Craze
• Final Thoughts: A Win for Hyperliquid, but What’s Next?
• FAQs

Hyperliquid’s Hypurr NFT launch has sent shockwaves through the crypto world, with trading volumes hitting $45M within hours and floor prices soaring to $68,900. But beyond the hype, questions linger: Is this a cultural milestone or just another speculative bubble? We dive into the data, the debates, and what it means for NFTs in 2025.

What Are Hypurr NFTs, and Why Do They Matter?

Hyperliquid, the decentralized perpetuals trading platform, officially launched its Hypurr NFT collection on the HyperEVM mainnet this Sunday (September 28, 2025). This wasn’t just a symbolic drop—early activity pushed trading volume to ~$45M, with the floor price skyrocketing to $68,900 in mere hours. The 4,600-NFT collection honors Hyperliquid’s earliest supporters and celebrates HyperEVM, the programmable LAYER expanding its L1 blockchain. In my experience, such launches either fizzle out or redefine markets. This one? It’s leaning toward the latter.

How Were the Hypurr NFTs Distributed?

Back in November 2024, during Hyperliquid’s Genesis Event, participants were invited to opt into receiving Hypurr NFTs. Here’s the breakdown:

• 4,313 NFTs allocated to Genesis participants
• 144 NFTs reserved for the Hyper Foundation
• 143 NFTs granted to developers and artists

The Hyper Foundation framed this as a “thank you” to the community. “Hypurr was about sharing a memento with those who believed in Hyperliquid’s growth early on,” their statement read. Frankly, it’s a smart move—rewarding loyalty while fueling FOMO.

The Early Market Frenzy: Numbers Don’t Lie

Trading kicked off at midnight on launch day. Within hours, Hypurr dominated OpenSea, hitting ~952K HYPE (~$45M) in volume. The floor price settled at 1,463 HYPE ($68,930), and individual sales reached absurd highs—like Hypurr #21 selling for 9,999 HYPE (~$470K). For context, that’s more than some luxury penthouses in Miami. Data from CoinMarketCap shows HYPE’s price surged 4.65% in 24 hours, trading at $47.14. Clearly, investors see Hypurr as both a cultural flex and a financial catalyst.

The Utility Debate: Hype vs. Substance

Let’s cut through the noise: Hypurr’s utility is murky. The Hyper Foundation explicitly states these NFTsoffer perks but guarantees nothing. Cue the skeptics. Some argue Hypurr symbolizes Hyperliquid’s rise; others call it a pricey collectible with dubious long-term value. As one BTCC analyst quipped, “It’s either the next CryptoPunks or Beanie Babies 2.0—time will tell.”