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CryptoPunk NFT Sold for $12 Million Worth of Ether at Sotheby’s

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Thu, 06/10/2021 - 14:59
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Alex Dovbnya
CryptoPunk #7523 has just made a record-breaking $12 million sale, proving that NFT hype is alive and well
CryptoPunk NFT Sold for $12 Million Worth of Ether at Sotheby’s
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A CryptoPunk non-fungible token has been sold for a cool $12 million (4,761 ETH) at a Sotheby's auction.

The pandemic-style 24x24 pixelated avatar is the only "alien punk" that has donned a mask, which makes it "extremely rare."

CryptoPunk
Image by @Sothebys

Founded by Larva Labs back in 2017, CryptoPunks was one of the pioneering projects in the NFT space.

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CryptoPunks are among the most popular NFTs, bringing their issuers over $100 million worth of sales.

A collection of CryptoPunks fetched $16.9 million at Christie's last May, but the masked alien (CryptoPunk #7523) is the most expensive one to date.

While being around for quite a long time, NFTs reached the peak of their mainstream coverage back in March with Beeple's record-shattering $69.3 million sale.

The most recent auction proves that the demand is still there despite growing skepticism.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.