{"id":8136,"date":"2021-06-11T20:54:51","date_gmt":"2021-06-11T20:54:51","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/cryptopunk-nft-sold-for-almost-12-million-in-sothebys-auction\/"},"modified":"2021-06-11T20:54:51","modified_gmt":"2021-06-11T20:54:51","slug":"cryptopunk-nft-sold-for-almost-12-million-in-sothebys-auction","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/cryptopunk-nft-sold-for-almost-12-million-in-sothebys-auction\/","title":{"rendered":"Cryptopunk NFT Sold for Almost $12 Million in Sotheby\u2019s Auction"},"content":{"rendered":"

A Cryptopunk NFT was recently sold for $11.8 million during an auction organized by Sotheby\u2019s. The sale, which also featured works of other artists, was organized virtually. Sotheby\u2019s anticipates strong demand for this kind of digital good in the future, even as NFT fever has somewhat subsided in recent weeks.<\/strong><\/p>\n

Cryptopunk NFT Sold for Almost $12 Million<\/h2>\n

Sotheby\u2019s, a leading art and luxury auction house, announced<\/a> yesterday the sale of a Cryptopunk NFT for almost $12 million. The auction, titled \u201cNatively Digital<\/a>,\u201d presented a group of curated works in the form of NFTs. While the feature of the auction was the Cryptopunk NFT, it also featured 27 other digital artworks.<\/p>\n

The Cryptopunk NFTs are the very first series of NFTs minted on the Ethereum network by Larva Labs back in 2017. While they were created and distributed for free at that time, they are now highly valued for their origin. There are 10,000 Cryptopunks in total, but the one auctioned was especially strange.<\/p>\n

Dubbed by some as the \u201cCovid Alien\u201d Cryptopunk, the NFT avatar depicts a pale green-skinned character donning an orange beanie and a mask. This made it especially desired compared to other Cryptopunks that have more conventional traits. Shalom Meckenzie, a shareholder of fantasy sports betting site Draftkings, won the auction for the asset.<\/p>\n

According to Sotheby\u2019s, this sale marks an auction record for a single Cryptopunk. Other tokens in the sale also reached high prices at the auction. Kevin McCoy\u2019s Quantum sold for almost $1.5 million, and Robert Alice\u2019s iNFT sold for almost $500K.<\/p>\n

<\/p>\n

NFT Bubble Popped<\/h2>\n

While the NFT craze surged just some months ago, it has subsided recently. While the Sotheby\u2019s auction shows there is still a real interest in digital artwork, it seems this interest has migrated to real artists and established collectibles. According to Protos<\/a>, the sales of NFT\u2019s are down 90% since their biggest numbers posted last May. This means the occasional NFT cash grab project is dying and could mean that the ecosystem around NFT\u2019s is maturing.<\/p>\n

However important this NFT sale might seem, it pales in comparison to the amount of money Beeple got for an NFT last March. The artist managed<\/a> to get $69 million for a work titled \u201cEverydays: The First 5000 Days.\u201d The NFT shows his first 5000 artworks from his \u201cEverydays\u201c<\/em> project, where he vowed to produce some kind of artwork every day.<\/p>\n

What do you think of Sotheby\u2019s latest Cryptopunk auction? Tell us in the comment section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Art, artworks, Bitcoin, Blockchain, Cryptocurrency, cryptopunk, nft, Sotheby\u2019s<\/p>\n","protected":false},"excerpt":{"rendered":"

A Cryptopunk NFT was recently sold for $11.8 million during an auction organized by Sotheby\u2019s. The sale, which also featured works of other artists, was organized virtually. Sotheby\u2019s anticipates strong demand for this kind of digital good in the future, even as NFT fever has somewhat subsided in recent weeks. Cryptopunk NFT Sold for Almost…<\/p>\n","protected":false},"author":0,"featured_media":8137,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8136"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8136"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8137"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}