Once again, the NFT universe is ablaze with excitement as a rare CryptoPunk, specifically Punk #635, achieves a monumental sale of $12.5 million. This astounding transaction involved a remarkable $12.5 million exchange. .
The deal, overseen by high-end NFT brokerage House Fountain, marks the trio of such high-profile 'Alien Punk' sales within the past two months, each exceeding the $10 million threshold.
TLDR
- An extraordinary CryptoPunk known as Punk #635 changed hands for a price beyond $12 million, making it among the priciest within its lineup.
- Punk #635 holds its place as one of the scarce nine 'Alien Punks' in the vast 10,000-piece CryptoPunk collection.
- Following a series of significant CryptoPunk transactions, two other Punks, #3100 and #7804, were previously sold for $16.03 million and $16.42 million, respectively.
- Even with these lofty price tags, these sales haven't set the ultimate record for the costliest Punk or NFT sold to date.
- This transaction emerges as collections like Bored Ape Yacht Club and Azuki see a downturn, yet CryptoPunks persist in their elevated valuation.
Punk #635 is part of an elite group of only nine 'Alien Punks' in the CryptoPunk series, adding to its rare and highly coveted status.
The purchaser, choosing to invest approximately 4,000 ETH ($12.5 million), signals the enduring charm and significance of CryptoPunks within the NFT realm.
Coming swiftly after earlier sales of note, CryptoPunk transactions continue to captivate, as seen with Punk #3100 fetching $16.03 million in ETH, succeeded closely by Punk #7804 at $16.42 million in ETH.
The prominence of CryptoPunks amid these high-profile trades continues to affirm their leading role among NFT enthusiasts, even as other collections see varied fortune.
While the numbers are impressive, the sale of Punk #635 doesn't top the charts for the priciest CryptoPunks or NFTs historically.
That honor goes to Punk #5822, which was traded for nearly $24 million back in 2022, with the highest NFT sale made by Beeple’s art at $69.3 million in 2021.
This transaction surrounding Punk #635 occurs during a phase where the NFT market witnesses a shift in preference alongside dynamic market forces. Despite uncertainty surrounding certain NFT collections, CryptoPunks have managed to uphold their prestigious stature.
The Bored Ape Yacht Club (BAYC), once a celebrated name, has seen its base price fall drastically from its zenith in 2022.
The most accessible Bored Ape Yacht Club NFT, once priced around 128 ETH (approximately $408,000) in late 2021, now demands a mere 15.5 ETH (about $40,000), indicating a significant 90% value decrease. Similarly, other popular collections have seen considerable depreciation. Azuki and Doodles This declining trend is widespread across various NFT segments, with the cumulative daily trade volumes plummeting by an astonishing 99% from their boom in April 2022.
The market seems to recalibrate its interest towards more established and scarcer collections like the CryptoPunks, which continue to attract attention and retain value.
The Editor-in-Chief at Blockonomi and the founder of Kooc Media, a UK-based online platform, who supports Open-Source platforms, blockchain innovations, and advocates for a universally fair internet.
