Nfts
Alien CryptoPunk Sells for $12.5M as Rare NFT Trading Intensifies – DL News
- CryptoPunk #635 sold for 4,000 Ether, or approximately $12.5 million.
- This is the third extraterrestrial CryptoPunk sold this year, bringing the total to 12,940 Ether, or approximately $45 million.
- As NFT volumes and price floors continue to decline, rare NFTs still appear to be highly sought after.
One of nine extraterrestrial CryptoPunks sold on Thursday for 4,000 Ether, or about $12.5 million, in a transaction facilitated by Fountain, a high-value NFT broker.
CryptoPunks is a collection of 10,000 unique, pixelated profile photos created by the development studio. Larvae laboratories. Each image is linked to a non-fungible token, or NFT.
NFTs are a type of digital collectible that uses cryptography to verify ownership and authenticity, serving as digital proof of ownership.
CryptoPunk #635which was previously owned by Larva Labs, was last sold as part of a collection of nine CryptoPunks for just under $17 million, or 4,250 Ether, at Christie’s auction house in May 2021.
The identity of the last investor remains unknown.
This particular Punk is highly coveted because he is one of nine which features the rare alien trait. For NFTs, scarcity often correlates with higher prices in a given collection.
The sale comes as earlier in the year two other CryptoPunks with extraterrestrial characteristics were sold, bringing the annual total for Extraterrestrial Punks to 12,940 Ether, or approximately $45 million.
On March 4, CryptoPunk #3100 sold for 4,500 Ether, or around $16 million, and on March 20, CryptoPunk #7804 sold for 4,850 Ether, or approximately $16.5 million.
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CryptoPunk #635 already had received an offer on March 5 for 4,440 Ether, or about $16.4 million, but the offer was took of on April 22. By not accepting this offer, the owner of CryptoPunk #635 missed out on approximately $4 million in additional potential profit.
But these transactions pale in comparison to the record sale of CryptoPunk #5822which occurred in February 2022. This Punk fetched a staggering price 8,000 ether – almost $24 million at the time.
Thursday’s sale of CryptoPunk #635 is the latest in a series of Alien Punk sales, following CryptoPunk #3100 earlier this year. This sale ended a 751-day drought in which no Alien Punk was sold since the purchase of CryptoPunk #5822 in 2021.
Despite high-profile sales, the CryptoPunks collection has seen a significant slowdown since its peak in 2021.
The minimum asking price, or floor price, for a CryptoPunk peaked at 113.9 Ether, approximately $408,000, on October 8, 2021, but has since declined to just 36.9 Ether, or approximately $117,000 today. today.
THE Bored Monkeys Yacht Club, another popular NFT collection, has also seen a drastic change in value. Its floor price reached a high of 128 Ether on April 30, 2022, but saw a sharp decline to 15.5 Ether. This downward trend in values is reflected across the entire NFT market.
Trading volumes reached an all-time high on April 30, 2022, largely fueled by Yuga Laboratories‘Another metaverse project NFT salegenerating more than 200,000 Ether in trading volume in a single day.
Since then, however, trading volumes have been trending downward. The total daily volume, according to ChallengeLlamafell 99% to just 1,700 Ether on Wednesday.
Ryan Celaj is a data correspondent at DL News. Do you have any advice? Send him an email to ryan@dlnews.com.