The market for unreleased Hyperliquid NFTs, known as Hypurrs, is experiencing a remarkable surge, with prices on permissionless over-the-counter (OTC) markets hitting six figures. This month alone, several transactions have fetched prices exceeding $80,000, indicating a strong demand even before the official launch of the collection.
The Hypurr NFTs are considered the top-performing digital assets of 2025, despite not having been officially released yet. These NFTs were initially allocated to the top 5,000 accounts of the perpetual trading platform prior to its token launch scheduled for November 2024. For most of 2025, OTC transactions for these unreleased NFTs varied between $30,000 and $60,000. However, the recent surge in demand correlates strongly with the HYPE token reaching new valuation milestones. Currently, the floor price on DripTrade, a platform built on Hyperliquid, stands at approximately $100,000.
In September alone, five Hypurr NFTs were sold for prices surpassing $80,000, with the highest transaction recorded at $88,000, equivalent to around 1,585 HYPE tokens. This rapid increase in value appears largely driven by speculation. Potential buyers are anticipating various incentives that could accompany NFT ownership, including airdrops of additional HYPE tokens, distributions related to the broader ecosystem, and potential reductions in trading fees or revenue-sharing opportunities.
Despite this fervent interest, the founder of Hyperliquid, Jeff Yan, along with the rest of the Hyperliquid team, have yet to address the rampant speculation concerning the utility of these NFTs. They have not clarified why the distribution to eligible users has been delayed for nearly ten months, leaving the community yearning for more information on the future of the Hypurr collection within the Hyperliquid ecosystem.
