Not so many years ago, Lamborghinis were the main "flex" for crypto "moon-boys" as token prices reached astronomic valuations. Several loftier-profile cryptocurrency proponents made it a habit of arriving at conferences backside the wheels of exotic supercars and "when Lambo" was a pop refrain in the industry.

These days, nonfungible tokens (NFT) are arguably the main topic of conversation in the crypto infinite, and ownership of expensive PNGs to exist displayed on social media profile pictures is the new condition symbol for the "cryptorati."

Tweeting on Thursday, Chinese crypto journalist Colin Wu reported that internet bigwigs in the state are among some of the latest to bring together the NFT hype. Cai Wensheng, founder of smartphone maker and photo touch-up app Meitu, has reportedly purchased CryptoPunk #8236 for 125 Ether (ETH) — about $387,000.

Indeed, CryptoPunks, maybe the most pop NFT drove in the market, has been gaining even greater popularity even outside the crypto infinite. Every bit previously reported by Cointelegraph, card payments giant Visa recently purchased CryptoPunk #7610 for near $150,000.

Related: Facebook 'definitely looking' at NFTs, says exec

Budweiser likewise recently purchased a $120,000 fan art as well as the Beer.eth domain in what appears to be a growing appeal for NFTs. Social media giant Facebook has as well said that is "definitely looking" at NFTs as part of the evolution of its crypto wallet production, Novi.

As of mid-August, popular NFT market place OpenSea recorded an over 76,000% year-to-appointment increase in trading book among the electric current NFT hype. Play-to-earn NFT games like Axie Infinity are on a tear in terms of metrics such as internet traffic and governance token price.

Warnings of a possible chimera for NFTs are also beginning to make the rounds, with critics saying the current hype is unsustainable. On the other side of the argument, proponents say NFTs could be to Web 3.0 what social media and e-commerce have been for Web two.0.