Rare CryptoPunk NFT Sells for Over $12 Million

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  • A CryptoPunk NFT has changed hands for more than $12 million making it one of the most expensive Punks
  • It was among the nine rarest collectibles’ in the 10,000-piece collection
  • Last month, another Punk was sold for $16 million

The current crypto bull market is reviving high-profile NFT trades with a CryptoPunk changing hands for over $12 million, roughly a month after another Punk sold for above $16 million. The collectible, Punk #635 is among nine of the rarest Punks in a collection with 10,000 collectibles, explaining why it’s positioned to attract such a high price. CryptoPunk NFTs seem to be regaining their dominance, unlike other collections like the Bore Ape collection whose prices are down by roughly 90% from their highs in 2022, something that may show a change in collectors’ preferences.

Not the Only Expensive Punk

According to collectible brokerage firm Fountain, the collectible was originally owned by Larva Labs but later auctioned by prominent art house Christie’s in 2021. The brokerage firm declined to disclose the Punk’s previous and present owners only saying it’s “honored to have played a small role in the sale.”

The sale follows other high-profile CryptoPunk sales in the recent past, with two other Punks, #3100 and #7804, selling for $16.03 and $16.42 million respectively. 

Despite the high prices, the three Punks didn’t break the record of the most expensive Punk ever sold which was set in 2022 when Punk #5822 changed hands for close to $24 million at the time.

Beeple’s Record Still Safe

They are also nowhere near the highest record holder across the NFT ecosystem currently held by a Beeple NFT which sold for $69.3 million in 2021.

The sale comes six months after Yuga Labs disclosed that it will allow Punk holders to get printed copies of their NFTs. It also comes a year after Yuga Labs donated Punk #110 for display at Europe’s art museum Centre Pompidou.

With several Punks selling for over $10 million, it’s to be seen whether it’ll ignite similar high-profile sales in other Yuga Labs-linked NFT collections.