Cryptopunk NFT sells for over £4.1 million

With the bear mar­ket still loom­ing over the cryp­to scene, over­all NFT sales have gone down sig­nif­i­cant­ly since the begin­ning of this year.

But, that hasn’t deterred col­lec­tors who aim to use the bear mar­ket and slip­ping prices of Ethereum (ETH) in the after­math of The Merge to buy up what could con­ceiv­ably be called a good a price desir­able dig­i­tal art pieces.

Cryp­toP­unk #2924, with the unique attribute of a hood­ie, was sold this after­noon at the price of 3,300 ETH, equiv­a­lent to near­ly £4.1 mil­lion. It’s the most lucra­tive NFT sale in recent mem­o­ry, and the fourth-largest all time for Cryp­toP­unks in ETH.

Cryp­toP­unk #2924 was sold by notable pseu­do­ny­mous NFT col­lec­tor seed, but the buy­er is unknown at this time. This Cryp­toP­unks NFT was last sold in Novem­ber 2020 for 150 ETH, which was only $71,400 at the time.

It’s one of only 24 apes in the entire Cryp­toP­unks col­lec­tion, which includes 10,000 unique NFT pro­file pic­tures, and Rar­i­ty Tools ranks it as the 38th “rarest” NFT in the project based on its attributes.

The Ethereum col­lec­tion estab­lished the core tem­plate for mod­ern pro­file pic­ture projects, mak­ing Cryp­toP­unks one of the most valu­able and influ­en­tial NFT brands. It influ­enced sub­se­quent hits such as the Bored Ape Yacht Club and Doo­dles, and Cryp­toP­unks sales have gen­er­at­ed near­ly £2.2 bil­lion in sec­ondary trad­ing vol­ume to date.

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Lar­va Labs launched the project in 2017, fore­shad­ow­ing the NFT mar­ket craze of the last two years. In March of this year, Lar­va Labs sold the IP rights to Yuga Labs, the cre­ators of Bored Apes.

Yuga Labs has since grant­ed all own­ers com­mer­cial­i­sa­tion rights, allow­ing them to use their Punks imagery in deriv­a­tive art and projects.

Deep­ak Thap­liyal, CEO of cloud blockchain infra­struc­ture start­up Chain, set the all-time Cryp­toP­unks sale record in Feb­ru­ary when he pur­chased Punk #5822 for 8,000 ETH—nearly £22 mil­lion at the time.

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