The NFT art collection CryptoPunks has recently made headlines with the sale of CryptoPunk 635 for $12.38 million ETH on the Ethereum blockchain. This piece is one of only nine alien punks in the collection, making it extremely rare and valuable. Previously owned by Larva Labs, the piece was sold by the Christie’s Contemporary Art Evening Sale in May 2021 before being acquired by an anonymous collector through the high-value NFT broker, Fountain. This sale marks the fourth highest-value piece in the entire CryptoPunks collection and has generated significant attention within the NFT art community.
Launched in 2017, CryptoPunks is a collection of 10,000 uniquely generated digital depictions inspired by the cyberpunk movement. Each piece is unique and can be collected through interactions with the Ethereum blockchain. While most of the pieces in the collection are human depictions, there are also limited edition pieces that represent zombies, apes, and aliens. Other pieces from the collection have sold for as high as $23.7 million, demonstrating the high value and demand for CryptoPunks within the NFT art world.
In March 2022, CryptoPunks was acquired by the parent company of Bored Ape Yacht Club (BAYC), Yuga Labs, for an undisclosed amount. This acquisition solidified CryptoPunks’ position within the NFT art world and showcased the success of the project’s founders, Matt Hall and John Watkinson. The collaboration between Yuga Labs and CryptoPunks has brought commercial rights to NFT holders, similar to what was done for BAYC and MAYC owners, further enhancing the value and appeal of the collection.
Despite a trend of declining monthly sale prices in the NFT art world, the recent sale of CryptoPunk 635 and other high-value transactions may indicate that NFTs have staying power within the art industry. The sale of rare and unique pieces such as CryptoPunk 635 for millions of dollars demonstrates the continued interest and investment in NFT art. For those interested in owning a similar piece, CryptoPunk 5905, another alien punk, is currently on the market for $15.64 million, providing an opportunity for collectors to acquire a valuable and rare NFT artwork.
Overall, the recent record-breaking sale of CryptoPunk 635 highlights the ongoing success and popularity of the CryptoPunks collection within the NFT art world. With high-value transactions and collaborations with established NFT projects like BAYC, CryptoPunks continues to be a major player in the digital art market. The sale of rare and unique pieces at multi-million dollar prices demonstrates the potential and value of NFT art as a new form of artistic expression and investment.
