Someone just bought a Cryptopunk for $4.5 Million

General NFT sales might be down from earlier this year, but NFT collectors are using the bear market and the falling price of ETH to snap up fairly good deals on desirable digital art pieces.

The sale of CryptoPunks NFT #2924 for nearly $4.5 million worth of ETH is the largest single NFT sale in recent times. Counted in ETH, the 3,300 ETH sale price is the fourth-largest all-time for CryptoPunks. However, it’s much further down the list when calculated in terms of U.S. dollars at the time of sale.

Punk #2924

CryptoPunk #2924 was sold by a notable pseudonymous NFT collector seedphrase, it’s not directly clear who the buyer was. This individual CryptoPunks NFT was last sold in November 2020 for 150 ETH with just $71,400 at the time.

It’s one of just 24 apes in the entire CryptoPunks collection, which traverses 10,000 unique NFT profile pictures, and is believed the 38th “rarest” NFT in the project by Rarity Tools based on its features.

Also read, Nike sets new NFT Sales record despite low interest

CryptoPunks is one of the most valuable and effective NFT brands, as the Ethereum collection set the core template for modern profile picture undertakings. It affected later hits like the Bored Ape Yacht Club and Doodles, and the sales have yielded about $2.4 billion to date in secondary trading volume.

The project was established by Larva Labs in 2017, an early prototype of the NFT market craze of the last 2 years. Larva Labs ultimately traded the IP rights to Yuga Labs. Yuga Labs has since the gave up complete commercialization rights to all owners, allowing them to use their Punks imagery for derivative art and projects.

The all-time CryptoPunks sale record was set way back in February when Deepak Thapliyal, CEO of cloud blockchain infrastructure startup Chain, bought Punk #5822 for 8,000 ETH—nearly $24 million worth at the time.

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