CryptoPunks, a popular NFT art collection, recently made headlines with the sale of CryptoPunk 635 on the Ethereum blockchain for a record-breaking $12.38 million in ETH. The ultra-rare alien punk is one of only nine in the collection and was previously owned by Larva Labs, the parent company of CryptoPunks. The transaction was facilitated by high-value NFT broker, Fountain, and the new owner has chosen to remain anonymous. This sale marks the fourth highest-value piece in the entire collection and demonstrates the continued success and interest in the NFT art market.
Launched in 2017 by Canadian software developers Matt Hall and John Watkinson, CryptoPunks is a unique collection of 10,000 digital depictions inspired by the cyberpunk movement. Each piece is generated uniquely, and can be collected by anyone interacting with the Ethereum blockchain. While most of the collectibles depict humans, there are limited edition pieces that represent zombies, apes, and aliens. The CryptoPunks project has gained significant popularity over the years, with some pieces selling for as high as $23.7 million. The recent sale of CryptoPunk 635, along with others, highlights the potential value and demand for NFT art in the digital age.
In a statement following the sale, the NFT project expressed their honor in playing a role in the transaction and congratulated both the seller and the new owner of CryptoPunk 635. The project has seen success in recent years, with the acquisition of CryptoPunks by Yuga Labs, the parent company of Bored Ape Yacht Club (BAYC), in March 2022. Yuga Labs praised the founders of CryptoPunks for pushing NFTs and the broader crypto world forward and expressed excitement about the future of the brand under their ownership. The acquisition of CryptoPunks by Yuga Labs further solidifies the project’s reputation in the NFT art world.
Despite a recent trend of decreasing monthly sale prices for NFT art, the sale of CryptoPunk 635 and other high-value pieces may indicate the staying power of NFTs in the art industry. The success of CryptoPunks, along with other notable NFT collections, suggests that there is continued interest and investment in digital art. For those interested in acquiring their own piece of the CryptoPunks collection, CryptoPunk 5905, a similar alien punk, is currently on the market for $15.64 million. The growing interest in NFT art and the success of collections like CryptoPunks highlight the potential for innovation and growth in the digital art market.
