The CryptoPunk craze shows no signs of abating. Larva Labs has announced a record sale for its platform: a punk was sold for 2,500 ethers (ETH)
CryptoPunk tops $10 million
Larva Labs’ non-fungible token (NFT) project regularly makes headlines, and very often tops the highest weekly NFT sales charts. However, it is rare for a CryptoPunk to reach such a price.
The price of this CryptoPunk (number 4156) is due to its rarity. There are only 24 NFTs of this type, i.e. “Ape Punks”, which drove up the purchase value. At the time of the sale, these 2,500 ETH were worth USD 10.2 million.
However, this is the second most expensive punk in history. Last June, CryptoPunk 7523 sold for a whopping USD 11.8 million. It too was relatively rare, as it wore a now-familiar mask.
Moments ago in our London saleroom, an extremely rare “Alien” CryptoPunk 7523 from the collection of @sillytuna sold for $11.8M as part of our NativelyDigital NFT auction – setting a new world auction record for a single CryptoPunk. pic.twitter.com/PDVUSttI3o
– Sotheby’s (@Sothebys) June 10, 2021
Yesterday’s sale is a record, however, as it’s the first time a punk directly from Larva Labs’ sales platform has traded for such a high price
CryptoPunks still going strong
While not all CryptoPunks fetch such high prices, they are among the most popular NFTs of the moment. They regularly sell for a million dollars or more. The median price over seven days is currently over $300,000.
The buzz is also evident with the big names that have partnered with Larva Labs in recent months. In September, the company signed a Hollywood agency. And earlier in the year, it was Visa that caused a stir in the crypto-community by buying a CryptoPunk, for what now seems an almost small sum: $150,000. So the “punks” seem to be here to stay…
