CryptoPunks are one of the most unique and popular collections of NFTs on the art market. A rare CryptoPunk just broke records after being sold for $24 million during the weekend. The transaction is at an all-time high and is almost double the price of the previous record holder.
The NFT in question is CryptoPunk 5822, one of nine rare alien Punks. According to statistics from Larva Labs, the alien Punk sold for 8,000 ether or more than $23,7 million. The massive price has significantly shifted since it was last sold only for $1,646.
The price back then was so low because NFTs were still not popular as they currently are. Furthermore, CryptoPunks is one of the most popular collections due to its legacy that began in 2017. They came before many other NFT collections and have had time to build their image and craft a unique and artistic appeal to their collection.
The previous record was selling “Covid Alien” Punk, which sold for $11,8 million. The transaction happened last June and gave rise to much excitement from the crypto community.
NFTs have surged in value since their rise to popularity in 2021. The recent sell of $24 million over the alien CryptoPunk still pales compared to the all-time high record of $69 million set by Beeple, who had their piece auctioned by Sotheby.
This signals a long-term trend towards NFTs becoming part of the mainstream finance and art world despite doubts from experts. The rise is proven by statistics, which show the highest rise in revenue of $7 billion for January, despite the plummeting prices of many cryptocurrencies.
