From Beeple’s “Everydays” to NBA’s Top Shots, the non-fungible token (NFT) market has enjoyed great attention this year. However, the NFT craze has subsided lately compared to a couple of months ago. Regardless of that, Christie’s auction house recently announced the sales of nine CryptoPunks for $16.9 million.
CryptoPunks are a non-fungible token collection of 10,000 digital heads (6,039 males and 3,840 females). They were developed by Larva Labs, a team of two Canadian developers Matt Hall and John Watkinson in 2017 on the Ethereum blockchain.
On May 11, a set of nine rarest CryptoPunks were auctioned off on Christie’s auction house by Larva Labs. The sale has been described as huge after exceeding the $7 million to $9 million price range projected by Christie’s. However, the identity of the buyer is yet to be revealed.
The prices of CryptoPunk NFTs have dropped a tad considering that one was selling for around $7.6 million some months back. Apart from their historical significance, their rarity makes them more sought by digital collectors.
Larva Labs Partners with Non-Profit Organisation to Display CryptoPunks in Public
Earlier this year, Christie’s sold its first-ever NFT piece “Everydays: The First 5000 Days” by Beeple for $69 million. The sale is the priciest ever, placing Beeple among the top three most valuable living artist. However, Christie’s is set for another NFT sale by Emily Ratakjkowski on March 14.
Per a report, Christie’s and Larva Labs have partnered with a non-profit organization SaveArtSpace, which creates art exhibitions in public spaces. Over the next month, SaveArtSpace will display 193 CryptoPunks on billboards, New York’s bus shelters and phone booths.