There is no doubt that the crypto punk buzz is still on, as the famous Christie’s auction house proved that. This is a break of the historical records as nine crypto punks NFT sold for $17 million. Even though the NFT vibe is cooling down, there are still NFT that have historical significance and hence have high demand. Wednesday was historic when a tweet came from Christie’s house with the news that the nine NFTs fetched almost $17 million. As much as that seemed a lot of money, NFT fans on Twitter still believe that the winner got a bargain.
The rise of CryptoPunks
Cryptopunks was first introduced to the market in 2017 by LarvaLabs, and they had a market cap of 10,000 tokens. The NFT get inspiration from the London punk movement, and thus random portraits were depicted with unique features.
What contributed to the auction success at this time is the strategy used by Christie’s house. They joined hands with SaveArtSpace, a nonprofit urban art initiative so that the crypto punks can be displayed in the New York public spaces prior.
The public exhibition names Pixelated was able to showcase a total of 193 crypto punks between May 10 and Jue 6. It was similar to the public cryptopunks exhibition in Miami in April.
Christie’s auction house is not the only one holding NFT auctions. CamSoda, an adult streaming platform, also officially announced that it would be hosting a cryptopunk auction on Thursday. The requirements of auction attendees must have crypto assets worth $1 into their CamSoda account.
Daryn Parket, the vice president of CamSoda, announced that there is currently an NFT gold rush with million of trades in 2021. There are rare collectibles onboard every day, making it more exciting.
This is not the first time Christie’s house is getting a lot of money from NFTs. In February, there was an auction for the famous digital artist Beeple, where its NFT art fetched more than $69 million.
The NFT craze has just started, and many people are still willing to invest in unique works of art. The NFT future is bright for sure!