The collection makes up 1% of the entire CryptoPunks series and could be worth $30 million.
Key Takeaways
- Sotheby’s has announced that it will auction a lot of 104 CryptoPunks NFTs expected to fetch up to $30 million.
- The sale is titled “Punk It!” and will take place between Feb. 18 and 23; it will also feature other live events.
- Sotheby’s and its competitor Christie’s have previously sold several CryptoPunks and other NFTs at auction.
Sotheby’s will auction 104 CryptoPunks in an upcoming sale, according to an announcement from the auction house.
Collection Could Be Worth $30 Million
The upcoming sale is titled “Punk It!” and will be part of Sotheby’s “Metaverse,” a series of NFT sales that began last October.
The lot of 104 tokens is expected to sell for between $20 million and $30 million, according to various estimates.
The tokens were reportedly acquired by an anonymous collector in July 2021. The sizable collection represents about 1% of the total CryptoPunks supply, which contains 10,000 tokens.
Though the original buyer purchased the collection in an Ethereum transaction last year, Sotheby’s will likely allow the successful bidder to pay with cash or crypto, as in previous NFT auctions.
The tokens will be shown in an exhibition and auction scheduled to run between Feb. 18 and 23. The exhibition will also feature a VIP dinner and DJ party, among other live events.
CryptoPunks Are Dominating NFT Auctions
Sotheby’s previously sold a CryptoPunk in June 2021 for $11.75 million as part of its “Natively Digital” collection. It also sold five hand-signed prints of CryptoPunks NFTs in July 2021.
Its competitor, Christie’s, has also sold CryptoPunks during various sales over the past year. In May 2021, it sold a collection of nine CryptoPunks for $17 million. It also sold another batch of CryptoPunks that September.
The CryptoPunks series launched in 2017 and is one of the oldest NFT collections on Ethereum. Sotheby’s co-head of digital art Michael Bouhanna has called CryptoPunks “the original [profile pic] series that created the template for other NFT projects that have followed.”
High-profile Twitter users who own CryptoPunks or have used them as their avatar include the musical artists Jay-Z and Snoop Dogg. Even Visa has purchased a CryptoPunk for its collection.
Disclosure: At the time of writing, the author of this piece owned ETH and other cryptocurrencies.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Bored Ape Yacht Club NFT Prices Catch Up With CryptoPunks
Bored Ape Yacht Club is arguably Ethereum’s most sought after NFT collection today. Bored Ape Yacht Club Overtakes CryptoPunks Floor The prices for Ethereum’s hottest apes have caught up with…
Bitcoin and Ethereum Are Struggling, But NFT Avatars Aren’t
NFTs have become hot property in recent weeks. Floor prices for existing blue chip NFT projects have exploded, and the value of newer entrants is quickly rising to meet them. …
Investing Survey: Win A $360 Subscription To Pro BTC Trader
We’re doing this because we want to be better at picking advertisers for Cryptobriefing.com and explaining to them, “Who are our visitors? What do they care about?” Answer our questions…
Treasury Weighs In on NFTs and Art Crime
Wikipedia may not consider NFTs to be art, but the U.S. Treasury apparently does, and it has observed their role in art-related crime. Treasury Warns of Money Laundering The U.S….
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here