CryptoPunk #7756, a 24x24 pixel art image generated algorithmically by a computer, has been sold for a whopping 1,050 Ethereum ($3.2 million), according to a Twitter bot that tracks recent purchases.
The pixelated avatar depicting an alien with bloodshot eyes and green skin is part of the collection of 10,000 digitally scarce faces that managed to revolutionize the NFT sector.
In February, a rare a CryptoPunks NFT was purchased for an eye-watering $23.7 million by Chain CEO Deepak Thapliyal.
The Ethereum-powered project was launched back in 2017 when NFTs were still an arcane concept that was only known to some cryptocurrency aficionados. Initially, Larva Labs, the company behind the groundbreaking collection, released some CryptoPunks for free as an experiment before the project slowly started gaining traction.
The popularity of the collection reached enormous proportions in 2021, with high-profile celebrities, such as rapper Jay-Z, buying them for clout. Suddenly, whimsical pixelated images became a status symbol.
Last month, Yuga Labs, the creator of the Bored Ape Yacht Club NFT collection, announced that it had purchased CryptoPunks, solidifying its dominance in the industry.