Sotheby’s auction CryptoPunk # 7523 for $ 11.7 million


As the buzz around the NFT craze has skyrocketed in 2021, all major trends have to start somewhere. Today, Sotheby’s Auction House sold an NFT CryptoPunk for a world record of $ 11.75 million

CryptoPunk 7523, also known as “Covid Alien”, is part of an auction titled Natively digital: an organized NFT sale. The collection will feature 27 unique digital artists and will mark the first time that one of the major auction houses has offered a sale of only NFT artists. The CryptoPunk NFT will be the highlight of the auction.

CryptoPunks are digital works of art generated on the Ethereum blockchain and were initially given away for free to anyone with a ETH wallet. The 24 × 24 pixel 8-bit style coins were released in 2017 and, according to the studio that released them, are the first NFTs on Ethereum. When launched on Ethereum, the CryptoPunk line became the first NFT on the network and inspired the ERC-721 standard which was widely used for digital art and collectibles.

There are a total of 10,000 CryptoPunks and are believed to represent crypto-anarchist philosophy. The collection is made up of

When it comes to CryptoPunks, # 7523 is particularly desirable and considered one of the rarest of the “punk type”. This is one of nine Alien CryptoPunk and is the only example where the subject wears a mask. Of the remaining 9,991 Punks, 24 are monkeys, 88 are zombies, 3,840 are female, and 6,039 are male.

Each Punk differs from the next by presenting different identities, attributes and rarities. Each of the 10,000 punks has zero to eight distinguishing characteristics.

The exception is the “Genisis Punks”, a group of eight who have no attributes. Meanwhile, Punk # 8348 is the only one to offer a full set of eight types of features, including a cigarette, top, and mole.

NFTs helped galleries stay open during pandemic

The rise of DTVs this year has a number of reasonable explanations. Perhaps one of the most surprising areas is helping digital art in big auction houses and galleries. As the art world has been forced to close its doors to buyers and admirers due to the Covid-19 outbreak, buyers have had to look for alternatives to fill the dead space on their walls. Sotheby’s digital art curator Robert Alice said this about the idea.

“The growth of the NFT ecosystem and its rapid rise on the global cultural scene must in part be attributed to the shutdown of our physical world during COVID-19. As galleries closed their doors to their communities, NFTs as a digital medium and the concept of metaverse began to resonate with collectors around the world seeking new cultural experiences. As the physical world closed, the digital sphere opened.

Although this NFT sale is the first digital collection of its kind to be auctioned by a main house, Sotheby’s is no stranger to the rise of trendy digital art. Already in 2021, it became the first house to add cryptocurrencies to their accepted payment methods for digital and physical artwork.

According to on Twitter, the ultimate winner of NFT CryptoPunk would be Shalom Meckenzie, the largest shareholder in sports betting firm DraftKings.


About Author

Leave A Reply