Rare Alien CryptoPunk NFT Sets New Record with $12.38 Million ETH Sale
Julia Smith
Updated: April 26, 2024 11:59 EDT | 2 min read
A visual representation of the Ethereum blockchain symbolizing the recent sale of CryptoPunk 635.
CryptoPunks, the NFT art collection, made headlines once again with the sale of CryptoPunk 635 on the Ethereum blockchain for a staggering $12.38 million ETH. The collection made the announcement in a statement to X.
Record-Breaking Sale of Alien CryptoPunk NFT
As one of only nine alien punks in existence, CryptoPunk 635 is an exceptionally rare piece. It was sold as the fourth most valuable item in the entire collection.
According to the statement released on Thursday, the piece was previously owned by Larva Labs, the parent company of CryptoPunks, and was last sold at Christie’s Contemporary Art Evening Sale in May 2021.
The transaction between the NFT collection and the anonymous buyer of CryptoPunk 635 was facilitated by the high-value NFT broker, Fountain.
“We’re honored to have played a small role in this sale,” said the NFT project in Thursday’s statement. “Congratulations to the seller and the new owner!”
A Lucrative Venture on the Ethereum Blockchain
Created in 2017 by Canadian software developers Matt Hall and John Watkinson, CryptoPunks is a collection of approximately 10,000 digitally generated depictions inspired by the cyberpunk movement.
The project’s website states, “No two are exactly alike, and each one can be trustlessly collected by anyone interacting with the Ethereum blockchain.”
While most of the collectibles in the project feature human depictions, there are a select few limited edition pieces that represent zombies, apes, and aliens.
Other digital artworks related to CryptoPunk 635 have been sold by the project for as much as $23.7 million.
In the previous month, another anonymous buyer purchased an alien CryptoPunk for $16.03 million, making it the second-highest recorded transaction in the project’s history.
Positive Sign for the NFT Art World’s Future?
In March 2022, CryptoPunks was acquired by Yuga Labs, the parent company of the highly successful NFT collection Bored Ape Yacht Club (BAYC), for an undisclosed amount.
“We’ve always admired CryptoPunks and the work of its founders, Matt & John,” said Yuga Labs in a post to X shortly after the acquisition. “They have pushed NFTs and the broader crypto world forward, and we are honored to continue their legacy in the future we are building at Yuga.”
For those who missed out on the latest sale from the NFT project, CryptoPunk 5905, a similar alien punk, is currently available on the market for $15.64 million.
Despite the downward trend in monthly sale prices for NFT art in recent years, the sale of CryptoPunk 635 and others may indicate the enduring popularity of NFTs in the art industry.
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