The sales record for the art project Cryptopunks has been broken. A crypto investor and NFT collector nicknamed Danny7Rocket has paid over 71 thousand dollars for a Cryptopunk of the ape variety. This specific Cryptopunk has become the most valuable collectible ever sold. Beating a record set two months ago when another ape sold for 54 thousand dollars.
The sale record happened through the official Cryptopunks website. This is a break from the trend during which many sales for Cryptopunks happened on Rarible, including the previous record sale. According to the official website, the Ape Cryptopunk #2924 is the most valuable punk in terms of dollars (150 ETH). However, last month one punk sold for 185 ETH, which was $63.788 at the time of the transaction.
Cryptopunks is the first digital art project on the blockchain. The developers generated only ten thousand punks, and they distributed them for free. Now the most rare punks are selling for tens of thousands of dollars, while the cheapest cryptopunk are at least 400 dollars.
Cryptopunks second revival this year
The Cryptopunks project has regained the spotlight with some big sales this month. A few months ago the crypto art projects also took center stage. One of the cheapest Cryptopunks is now listed for 4 ETH, which equals 1800 dollars. A couple of months ago the cheapest punks would sell for a couple of hundred dollars.
CryptoPunks is a crypto art initiative that generated ten thousand different 24×24 punk-looking avatars. There are a few rares ones, like apes, zombies and an alien. Besides being a digital collectible, the project doesn’t offer any additional usage. However, Cryptopunks are often part of digital art galleries in virtual worlds like Cryptovoxels and Decentraland.
We can’t say that Cryptopunks are technically advanced non-fungible tokens. However, it’s the first collectible art project ever that used the Ethereum blockchain to mint collectibles. Because of their historical significance, Cryptopunks are valuable digital assets. There are only ten thousand punks on the market. Most likely rarity and scarcity push up the value.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a communication consultant for blockchain start-ups and writes not only for Play to Earn, but also other dapp websites and tech magazines.