At a time when NFT sales have reached a low point, it is the fourth-highest price for a CryptoPunk NFT and a significant morale booster.
While industry data point to a sharp fall in NFT sales, there are several individual ones that show the focus is changing from volume to value when it comes to such assets.
One such transaction took place on Thursday afternoon, when CryptoPunk NFT #2924 sold for a staggering 3,300 ETH, or over $4.5 million.
CryptoPunk NFT Makes Yet Another Price Claim
This is one of the highest prices for a punk since Punk #8522 was purchased for 8,000 ETH, or $24 million at the time, in February 2022, according to speedphrase, a pseudonymous NFT collector.
The punk hoodie ape that is being offered today is one of the 24 punk apes and the 38th most uncommon of the 10,000 that Larva Labs produced in 2017. It was last sold in November 2020 for 150 ETH, or around $71,400.
The intellectual assets of CryptoPunks were purchased from Larva Labs in March 2022 by Yuga Labs, the company behind the NFT collections Bored Apes Yacht Club (BYAC) and Mutant Apes Yacht Club (MAYC). Since the release on March 12th, the floor price of Bored Ape Yacht Club NFTs has increased by an astounding 25%.
Punk NFTs dominated the market all into 2021 until Bored Apes finally overtook them in price in December. The BAYC NFT collection’s floor price, which was 54 ETH, surpassed CryptoPunk’s 52.8 ETH on December 22. BYAC’s trading volume twice that of CryptoPunk in the seven days leading up to January 27.
Selling QQL NFTs for $17 Million
A generative art project named QQL by Tyler Hobbs and Dandelion Wist sold NFTs for $17 million on September 28 in another major transaction defying the present bear market, according to media sources.
Numerous individual NFTs from Hobbs’ Art Block Fidneza project have sold for over $1 million in the most recent year. Co-creator of the Archipelago Art platform, which introduced these NFTs, is Dandelion Wist. 900 NFT mint passes totaling 14 ETH (about 18,600) apiece were auctioned, bringing in $16.7 million.
The auction featured a unique pricing scheme where the starting bid was 50 ETH and the last bid was 14 ETH. Refunds are available to anyone who purchased passes for more than 14 ETH.
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