Cryptopunks for sale!

Thu 05 Aug 2021 ▪ 18h37 ▪ 3 min de lecture - par Violaine Silverstein

Cryptopunks bot, a Twitter bot that announces all sales and large bids for one of the earliest NFT projects called Cryptopunks, has reported a 48 Ethereum (ETH) (~£95,264; ~$132,661) sale of yet another punk’s avatar.

More on Cryptopunk #4458

The NFT market continues to become more and more popular with each and every passing day. Thus, we hear more news on different NFT projects, such as Cryptopunks, one of the earliest NFT projects ever. CryptoPunks are an assortment of 24×24 pixelated avatars, with a total of 10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain. 

Cryptopunk #4458, which was sold today for 48 ETH, is, of course, also unique. The avatar itself is of a green haired man, whose face is covered in spots. The picture’s distinctiveness comes from the fact that there are only 124 other punks with face spots and 148 with this type of hair, making this one particularly valuable within the NFT circles.

User 0x6f4a2d, one of the previous holders, gave away the avatar for free back in 2017 during the start of the project. There was an attempt to sell it yesterday for 39 ETH ($96,842=£69544,66). That equals to a 9 ETH price rise in less than 24 hours, a crazy exponential growth.

The NFT market on the rise 

Despite global media attention, NFT continues to take up a very small part of the crypto industry, just 2% to be exact. That’s why such sales continue to be a big deal in the crypto world. The NFT market was said to be worth a total of $50 million (~£35 million) back in 2019. And it’s a whooping $250 million (~£179 million) now. 

The Cryptopunks hype has also been spreading among traders. All July Cryptopunks sales are said to be worth more than $100 million (~£71 million) in total, with $3 million (~£2.15 million) worth of punks per day.

Today’s sale of Cryptopunk #4458 for 48 ETH is a clear sign that the NFT market continues to expand, going from being worth $50 million to $250 million in just two years.

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Violaine Silverstein

Quand j’ai commencé dans les cryptos il y a 3 ans, il y avait plus de 95% d’hommes et encore très peu de femmes, bon ça n'a toujours pas beaucoup changé, mais les choses bougent et je suis fière de representer les femmes dans ce milieu très technique qui est passionnant et plein d'avenir.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.