CryptoPunk “2338”, one of 88 Zombie Punks, sold on August 6 for 1,500 Ethereum, about $ 4.38 million at the time of sale. This makes it one of the most expensive CryptoPunks sold to date. The increase in value of CryptoPunks over the past couple of years is incredible. As CryptoSlam data shows, this CryptoPunk in 2018, was bought for just $ 443. A 1,000,000% return in less than three years. CryptoPunks were originally given for free to anyone with an Ethereum wallet who requested one in time, but the secondary market value skyrocketed during this year’s NFT market boom. According to the creator of Larva Labs, about $ 878 million worth of CryptoPunk has been sold in the past year. Auction house Sotheby’s also recently sold a CryptoPunk for $ 11.8 million.
An NFT is like a deed of ownership of a digital object, whether it is a digital painting, video file or interactive video game, or in this case, a 24×24 avatar with random characteristics. The NFT collectibles market exploded earlier this year, generating approximately $ 2.5 billion in total transaction volume during the first six months of the year. The rise in the price of Ethereum has something to do with the rise in the value of the CryptoPunks, but people are also grabbing the cheaper Punks en masse right now.
