CryptoPunks NFT project has set another record for itself, this time worth $24 million
CryptoPunk#5822 has been sold for 8,000 ETH, worth around $23.7 million at the time of sale.
- The CryptoPunk
NFTproject has recorded $2.61 billion in lifetime trades so far.
- The previous record for the highest selling CryptoPunk was at around $11 million, in June 2021.
The punk was bought by
The previous record was held by CryptoPunk #7523, which sold for $11.8 million through British auctioneers Sotheby’s in June 2021 —CryptoPunk $5822 sold for double that amount.
These aren’t the only two CryptoPunk NFTs that have made a mark in recent times. The
CryptoPunk #4156 was sold for around $10.56 million in December 2021, while CryptoPunk #3100 and CryptoPunk #7804 have been sold for $7.58 million and $7.57 million, respectively. Both of these, like CryptoPunk $7523 belong to the ‘Alien Punk’ line and are amongst the 378 punks that use pipes, and the 254 that wear caps.
According to blockchain tracking firm DappRadar, the CryptoPunk project has racked up $2.61 billion in trading volumes in its lifetime. About $163.07 million of that has come in the last 30 days alone.
On the face of it, the CryptoPunks project is simply a bunch of 8-bit artworks that don’t really make sense. In fact, many believe that it is still an internet fad that will soon die out. But projects like CryptoPunks, Bored Ape Yacht Club and more have a larger relevance in the overall metaverse space.
They signify avatars that companies like Facebook and Microsoft think we will own when we interact in virtual worlds in future. The blockchain platforms being used to signify ownership of these punks is the same one that will signify ownership of avatars in the metaverse and keep different people’s avatars from looking the same, or even being stolen. Metaverse identity theft, anyone?
Russia's new crypto law is less than a week away — Here’s what we know so far
Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16
Bajaj Finance’s strong digital move made it bigger than home loans giant HDFC
Popular on BI
- Vijay Shekhar Sharma steps down as Paytm Payments Bank Chairman
- Goa partners with World Bank to tackle sea level rise, coastal erosion and other climate change-related hazards
- Samsung unveils Galaxy Ring with health-tracking features at MWC
- Govt may look at enhanced KYC requirements for certain class of corporates
- Sebi cautions investors against fraudulent trading platforms offering stock mkt access via FPI route