CryptoPunk, one of the earliest NFTs recently sold its CryptoPunk #5822 for $24M.
The recent dip in CryptoPunk coincides with the downturn in the NFT market.
CryptoPunks is a groundbreaking project of 10,000 collectible characters or crypto avatars on the Ethereum blockchain. It has recently experienced dramatic fluctuations in value due to a dip in “blue chip” NFTs.
CryptoPunks launched in July 2017, is celebrated as one of the earliest examples of non-fungible tokens (NFT), inspiring the ERC-721 standard today. Their historical significance has earned them spots in prestigious art museums like ICA Miami, Centre Pompidou, and LACMA.
The collection’s most expensive NFT, CryptoPunk #5822, recently sold for nearly $24 million, breaking its previous record. The sale was a significant moment in the NFT world, as it was one of the nine ultra-rare Alien Punks. Before this sale, the record was held by another Alien Punk, which sold for $11.75 million at Sotheby’s.
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