Pocket Network on Monday announced the launch of a community initiative to support growth among blockchain communities.

These designs will be converted into digital wearables and NFTs to be featured and sold on the IMVU NFT Marketplace and the creators will receive a portion of the sales as part of the prizing package.

The Punk was estimated to be worth as much as $260,000 when it was first transferred to Ukraine’s Ethereum wallet in March before the price of ETH began to drop significantly.

The announcement of the hire comes amid a rapid rise in the CryptoPunk collection's floor price and trading volume.

After briefly making a low of $17,708, BTC rebounded to trade around $18,100 levels, down 12% in the last 24 hours.