Sotheby’s Lists 104 CryptoPunk Non-Fungible Tokens (NFTs) at New York Auction

CryptoPunk Non-Fungible Token (NFT) Valuation

The legendary “Punk Sweep” from August 2021, originally bought for around $7 million, is up for sale.

Sotheby’s is listing 104 CryptoPunk Non-Fungible Tokens (NFTs) at an auction in New York on February 23rd.

The collection, which will be sold as a single lot, is estimated by Sotheby’s at between $20 million and $30 million.

According to Sotheby’s, the group of 104 cryptopunks up for auction was acquired in August last year in a single transaction on the blockchain by an anonymous collector “0x650d”. The transaction is also confirmed through the Ethereum blockchain analytics site Etherscan.

An auction called “Punk It!” will be preceded by a panel discussion on the history of NFT and CryptoPunk.

CryptoPunks get the Sotheby’s treatment. Our next #SothebysMetaverse sale ‘Punk It! 104 CryptoPunks. 1 Lot.’ will be a landmark LIVE Evening Auction on February 23. A truly historic sale for an undeniably historic NFT project. pic.twitter.com/LAu6j8Atu3

— Sotheby’s (@Sothebys) February 8, 2022

CryptoPunks is a collection of 10,000 NFTs released in 2017 by Larva Labs featuring pixelated portraits of punk rock-like faces. Each NFT is unique, with different features and accessories such as blue bandanas, cigarettes, or mohawks.

CryptoPunks has become one of the most successful NFT collections with a current floor price of 67.5 ETH, or roughly $207,000 in today’s Ether value. This is up from an average price of around $67,000 last August when a seller at an auction bought a CryptoPunks lot, based on a $7 million purchase price reported by Bitcoinist.

Since its launch in 2017, CryptoPunks has generated around 683,000 ETH in sales, or over $2 billion.

Celebrities such as Jay-Z and Jason Derulo have used CryptoPunks as profile pictures on their social media accounts.

“CryptoPunks is the original PFP series that set the template for other subsequent NFT projects and helped propel NFT onto the global stage as one of the most recognizable visual styles that have become synonymous with the digital art movement,” said Michael Buanna. This is stated in a statement by Sotheby’s co-head of digital art.

Sotheby’s previously sold the rare CryptoPunk alien #7523 for $11.8 million back in June 2021.

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