Another CryptoPunk NFT Sold for $16.4 Million
Punk #7804 was recently sold for 4,850 ETH, making it the second most expensive transaction in the history of the collection.
Following the high-profile sale of Punk NFT #3100 for 4,500 ETH (equivalent to $16 million) earlier this month, on March 20, another CryptoPunk NFT, Punk #7804, was sold for 4,850 ETH (approximately $16.4 million at the time of sale).
As with the previous transaction, the buyer's identity remains undisclosed. On the other hand, the seller of Punk #7804 shared details of the sale on X (formerly Twitter), revealing that they had purchased Punk #7804 in 2021 for 4,200 ETH, which was about $7.57 million at that time. The seller had been seeking a suitable buyer for over a year.
End of an era. I've long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.
— Peruggia (@peruggia_v) March 20, 2024
After over a year of looking around I feel I've found the right buyer with the right vision to appropriately elevate this asset https://t.co/onngtTumrJ
Punk #7804 is one of only nine Alien Punks in the entire 10,000-piece CryptoPunks collection. This latest transaction has become the second most expensive NFT sale in the collection’s history, still behind the record of 8,000 ETH ($23.7 million) for Punk #5822 in February 2022.
Due to their rarity, Alien Punks often command extremely high bids, with even the cheapest CryptoPunks NFT currently on the market priced around 51 ETH, or roughly $177,000.
In the broader NFT market, this transaction ranks as the fifth most expensive NFT sale ever. The record remains held by the artwork "Everydays: The First 5000 Days" by artist Mike Winkelmann, which was auctioned at Christie's for $69.3 million in March 2021, serving as a catalyst for the initial surge of interest in NFTs.
Produced by Larva Labs in 2017, CryptoPunks set the standard for encrypted profile pictures, later inspiring and spreading through a multitude of other NFT collections. Originally given away for free, the collection has now generated nearly $2.8 billion in transaction volume, according to CryptoSlam.
