An extremely rare CryptoPunk NFT was auctioned off at Sotheby’s last week, netting over $11.7 million.
CryptoPunks were first released in 2017 by the founders of Larva Labs – artists Matt Hall and John Watkinson – and became the earliest examples of NFTs, inspiring the beginning of the crypto-art movement. Hall and Watkinson created and distributed 10,000 CryptoPunks for free, but the digital artworks are now selling for millions.
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While most CryptoPunks sell for six figures, some rarer and thus more valuable ones are selling for millions. Last month, a collection of CryptoPunks went on auction at Christie’s for $17m – the second-highest price paid for NFTs, after Beeple auctioned off his “5,000 Days” artwork recently.
Now, one of the rarest CryptoPunks out there – “Alien” Punk #7523 – has sold for $11.8 million at Sotheby’s, setting the record for a single CryptoPunk. The buyer is Shalom Meckenzie – the largest shareholder of DraftKings.
https://twitter.com/Sothebys/status/1403043797710290949
Later this month, Sotheby’s will offer another collection of five exceptionally rare CryptoPunks. This time, 5 of the 24 CryptoPunks issued in physical form will be sold at the auction house. The artworks will be sold as certified prints signed by co-creator John Watkinson, with bidding open from 24 June to 1 July.
Of course, the 24 signed prints are incredibly rare as they account for less than a quarter of 1% of the total digital CryptoPunks in existence. However, the five CryptoPunks offered in this auction – #6347, #770, #872, #1819, and #2830 – have a mix of highly sought-after characteristics like black lipstick, green eye shadow, crazy hair, luxurious beard, hot lipstick, a peak spike, and even a police cap.
Each will come in a rubber-stamped wax-sealed envelope, which will also contain a “paper wallet” – a “mnemonic code that provides access to the unique Ethereum-based token.
Image: Larva Labs / Matt Hall and John Watkinson