|crypto art||Cryptopunks||Digital collectibles||Larva Labs||on-chain|
Within the past two days, two CryptoPunks aliens have been sold for $7.5 million each. The second sale happend around about 12 hours after the first one, and the pricing of punk 7804 clearly set the mark for punk 1300. The buying wallets both were empty and didn’t contain any other NFTs.
The CryptoPunks community is surprised that two alien punk sold in such a short time frame. It sure makes these two sales seem like arranged deals, perhaps coming from the same source.
Alien punks are among the most wanted CryptoPunks in the series. However, they haven’t sold much. In January one alien punk sold for $762.000, immediately resulting in million dollar bids on other alien punks. However, the owners never accepted these bids.
Record sale for an NFT
Despite insane amounts of money, these two CryptoPunks aren’t the most expensive NFTs on the market. Not by a long shot. Even though they are the most expensive CryptoPunks, the top spot is for Mike Winkelmann. He’s an American artist who’s known by his pseudonym Beeple. His artwork Everdays: The First 5000 Days auctioned through Christie’s for a jaw-dropping $69 million.
Beeple’s art sales have been on fire lately. On the secondary market Beeple artworks are among the most valuable NFTs. According to DappRadar someone bought his Politics is Bullshit #2/100 for 333.33 ETH or $615 thousand earlier this week.
Why are Cryptopunks so valuable?
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. 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.