Digital collector Pranksy sold Cryptopunk 3831, also known as COZOM, for almost 63 thousand dollars or 99.99 ETH. He did this roughly one week after reobtaining the digital collectible from the Niftex exchange for 50 ETH. To some extend you might say he sold the same digital asset twice.
Pranksy first sold fragments of ownership over his digital collectible to collectors. He bought those fragments back last week, and then sold the zombie punk to its new owner.
Pranksy fragmented the COZOM collectible on the Niftex exchange back in September. He sold 6400 out of 10 thousand fragments for a total of 64 ETH. This way the collectible was valued at 100 ETH or 35.300 dollars at the time of the listing. According to data from Niftex, the collectible lost 55 percent of its value since the listing. Pranksy used the Niftex claim mechanism to buy back all the fragments and reclaim ownership over COZOM.
COZOM is now in the top five Cryptopunks in terms of its market value in ETH, while it’s in third place based on the dollar valuation. Last month an NFT collector nicknamed Danny7Rocket set the sales record for Cryptopunks, as he paid 71 thousand dollars for Cryptopunk #2924.
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 in the past months. A few months ago the crypto art project also took center stage. One of the cheapest Cryptopunks is now listed for 4 ETH, which equals close to 3000 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.
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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 content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.