Bitcoin

One of the rarest CryptoPunk was sold for 605 ETH

In the middle of a crazy bull cycle of non-fungible tokens (NFTs) in the market, An extremely rare “alien” CryptoPunk was sold today for 605 ethers, or about $ 750,000 for today’s price.

CryptoPunk are considered to be NFT’s original project, which was published even before Cryptokitties. the blockchain-based collector project that made NFTs available to the public. CryptoPunks developer, Larva Labs report that punks have had lifetime sales of $ 26 million in his home market, and the average retail price of each last year was $ 6,199.

Every punk has unique attributes, like the background color, the accessories you wear, and even some extremely rare features like an “alien” or “zombie” look. Punk # 2890 sold today is one of nine existing alien punks.

One of the rarest CryptoPunk was sold for 605 ETH
One of the rarest CryptoPunk was sold for 605 ETH

The offer for said punk has been very competitive over the past week. with DeFi Mega Wallet and Twitter personality 0x_b1 offer 500 ETH. The last time it was sold This punk was in July 2017 for 8 ETH, which means, that The owner made 75 times the return on their original investment.

The new owners are a group of investors, including FlamingoDAO, a “NFT collective that supports and collects premium NFT”, According to a Flamingo spokesman. The official FlamingoDAO Twitter account confirmed the purchase with a meme:

“It’s very simple: Cryptopunks are an innovative project that is older than the ERC 721 standard and cryptokitties”, said the spokesman about the investment thesis. “Aliens are the rarest form of cryptopunk, and we believe the acquired alien will be cherished by collectors over time and will mature into a digital art icon.”

The crypto art collector @gmoneyNFT, which fell 140 ETH for a punk at the beginning of the monthbelieves the Alien is a good investment despite its very high rating.

“I think it was a great buy. As the world gets more digital, digital flex becomes more and more important. It’s the way people act in the real world. It won’t change in the digital realm.” said.

Although it has long been seen as a secondary use case for blockchain technology, Sales like today show that NFTs are beginning their glory days. NBA Topshot, As a collector’s project from Dapper Labs, it has proven hugely popular and the creatures are from Axie Infinity They have also been selling at remarkable prices lately.

However, Some reviewers have questioned the sky-high prices of the rarer NFTs. to argue that The simple digital scarcity is a shaky foundation to justify a $ 750,000 sale. @gmoneyNFT rejects this criticism, stating that There are many analogs in the real world that make so much or so little sense.

“Why would someone pay millions of dollars for an original Andy Warhol painting when you can buy the same online for $ 20? Why would someone buy a pair of Yeezy for $ 300 when you can buy a fake from the same factory that was made with the same materials for a lot less? People like to feel special. Provenance has value. “

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