Is This the NFT Comeback? Hyperliquid Launches Hypurr Collection on HyperEVM

The NFT market has been relatively quiet over the past couple of years, but Hyperliquid’s latest move is stirring fresh attention.

The decentralized perpetuals exchange has rolled out its Hypurr NFT collection on the HyperEVM mainnet, sparking millions in trading volume and a floor price that quickly surged past $60,000.

Inside the Hypurr launch

The collection consists of 4,600 NFTs and was designed as a memento for early supporters of Hyperliquid and its HyperEVM rollout. According to the Hyper Foundation, most of the NFTs, 4,313 in total, were distributed to participants in the November 2024 Genesis Event.

The remaining tokens went to the Foundation itself (144 NFTs) and core contributors such as Hyperliquid Labs, developers, and artists (143 NFTs).

The launch generated immediate activity. Data from OpenSea shows Hypurr has already seen more than 952,000 HYPE tokens traded (about $45 million) since going live at midnight on Sunday.

The current floor price stands at around 1,463 HYPE ($68,930), with standout sales such as Hypurr #21, which changed hands for nearly 10,000 HYPE (~$470,000).

In a statement, the Hyper Foundation emphasized that each NFT “captures the different moods, hobbies, tastes, and quirks of the Hyperliquid community.” While the Foundation acknowledged that NFTs might sometimes be associated with certain benefits, it clarified that “no Utility is promised or guaranteed.”

The bigger picture

The debut of Hypurr is closely tied to Hyperliquid’s broader technical push. The NFTs were issued through the HyperEVM, a programmable interface that allows smart contracts to tap directly into Hyperliquid’s Layer 1 liquidity.

This two-way communication, secured by HyperBFT consensus, has enabled developers to experiment with applications like lending protocols, vault tokenization, and liquid staking.

At the same time, the launch has fueled debate about the role of NFTs in 2025. After the initial boom and subsequent cooling of the NFT market post-2021, some see Hypurr as a sign of potential renewed interest. Others question whether high trading volumes and steep floor prices reflect sustainable utility or speculative hype.

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