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This is the 4th record price in the history of CryptoPunks since this NFT collection was traded on the market, in ETH.
The severe market downturn caused current NFT sales to drop significantly compared to early 2022. However, it seems that NFT collectors have taken advantage of the “crypto winter” and ETH’s falling price to aim Earn good deals on unique NFT works.
A prominent example that appeared this week is NFT CryptoPunks number 2924, which just sold for nearly $4.5 million (equivalent to 3,300 ETH). Although the USD fiat price was average at the time of sale, in Ether terms, the transaction was paid for the fourth largest sale in the history of the CryptoPunks collection.
While previously, NFT CryptoPunks number 2924 was last sold in November 2020 for only 150 ETH, falling at $ 71,400 at that time. The work is one of 24 tailless monkeys in the CryptoPunks collection, spanning 10,000 unique NFTs and being considered by Rarity Tools as the 38th “rarest” NFT in the project based on NFT properties.
CryptoPunks is one of the most valuable and influential NFT brands to date, as BST carries the template and lays the core foundation for NFT projects built on modern Ethereum.
Later “blue chip” NFT collections like the popular Bored Ape Yatch Club (BAYC) were also influenced by CryptoPunks. In terms of operational efficiency, CryptoPunks sales have brought in nearly $2.4 billion as of September 2022.
CryptoPunks is an NFT project launched by Larva Labs in 2017, the initial precursor to the NFT market craze of the past two years.
But in March 2022, the company that created BAYC and Apecoin (APE) – Yuga Labs acquired the intellectual property rights of this collection from Larva Labs. Since then, Yuga Labs has opened up commercial rights to all owners, allowing them to use CryptoPunks images for derivative projects and art.
After belonging to Yuga Labs, CryptoPunks was given “new wings” and gained some extremely strong momentum about 2 months ago. The NFT CryptoPunks exchange price has returned to the $100,000 mark after dropping by 50% since May 18.
In early August, jewelry brand Tiffany & Co. chose CryptoPunks as its unique physical NFT chain launch theme. This event then spurred an increase in trading volume and a surge in NFT CryptoPunks sales.
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