Another huge transaction for NFT was completed at Christie’s auction house tonight: nine CryptoPunks were purchased for $16.9 million. This may be the second-largest NFT transaction in history, second only to Beeple’s $69 million transactions in March although it is worth noting that the transaction included nine separate works.
CryptoPunks is one of the earliest NFT projects, and they are becoming more and more valuable as collectors’ items. This project was created by Larva Labs in 2017 and provides 10,000-pixel portraits of people, zombies, aliens, and apes. Each person is generated by an algorithm and has different attributes such as hairstyle, glasses, or hat. Some features are rarer than others, and those features tend to bring more valuable CryptoPunk.
The nine CryptoPunks sold this time came from Larva Labs itself. The organization initially reserved 1,000 NFTs for itself and donated the rest. The nine bundles include a CryptoPunk with particularly rare features: CryptoPunk 635 (with blue face and sunglasses) is one of only nine “alien” punks in the entire series.
Another of the nine types sold is CryptoPunk 2, a versatile black hair that looks a bit like a heart, with the difference that it ranks second among 10,000 works.
Since the NFT began to explode in February, the popularity of CryptoPunk has soared rapidly. In March of this year, two alien punks were sold for more than US$7.5 million each. In the past few months, seven other auction houses have all sold more than $1 million.
This is Christie’s second huge NFT transaction. The auction house sold Beeple NFT for $69 million in March, which marked the high point of the NFT market. The NFT produced by Emily Ratajkowski will be auctioned at Christie’s later this week.