Rare Alien CryptoPunk NFT Achieves Record-Breaking Sale of $12.38 Million ETH
Julia Smith
Updated: April 26, 2024, 11:59 EDT | Reading Time: 2 minutes
A representation of the Ethereum blockchain symbolizing the recent sale of CryptoPunk 635 by CryptoPunks’ NFT art collection.
CryptoPunks, the NFT art collection, announced on Thursday that they have sold another groundbreaking piece called CryptoPunk 635 on the Ethereum blockchain for a staggering $12.38 million ETH.
Latest Sale Sets Record Price for Alien CryptoPunk NFT
CryptoPunk 635 is an ultra-rare entity, being one of only nine alien punks. It is now the fourth most valuable piece in the entire collection.
According to the statement released on Thursday, the piece was previously owned by Larva Labs, the parent company of CryptoPunks, and was last sold at Christie’s Contemporary Art Evening Sale in May 2021.
The deal between the NFT collection and the anonymous new owner of CryptoPunk 635 was facilitated by the high-value NFT broker, Fountain.
“We are honored to have played a small role in this sale,” said the NFT project in Thursday’s statement. “Congratulations to the seller and the new owner!”
A Goldmine Minted on the Ethereum Blockchain
CryptoPunks, created in 2017 by Canadian software developers Matt Hall and John Watkinson, is a collection of approximately 10,000 uniquely generated digital depictions inspired by the cyberpunk movement.
The project’s website states, “No two are exactly alike, and each one can be trustlessly collected by anyone interacting with the Ethereum blockchain.”
While most of the collectibles depict humans, there are a few limited edition pieces in circulation that represent zombies, apes, and aliens.
Other digital artworks similar to CryptoPunk 635 have been sold by the project for as high as $23.7 million. Just last month, another anonymous buyer purchased an alien CryptoPunk for $16.03 million, the second-highest recorded transaction in the project’s history.
Positive News for the NFT Art Industry’s Longevity
In March 2022, CryptoPunks was acquired by Yuga Labs, the parent company of the highly successful NFT collection Bored Ape Yacht Club (BAYC), for an undisclosed amount.
“We have always admired CryptoPunks and the work of the project’s founders, Matt & John,” said Yuga Labs in a post to X following the announcement. “They have propelled NFTs and the broader crypto world forward, and we are honored to carry their brands into the future we are building at Yuga.”
For those who missed out on the latest sale, CryptoPunk 5905, a similar alien punk, is currently available on the market for $15.64 million.
Despite the downward trend in monthly sale prices of NFT art in recent years, the sale of CryptoPunk 635 and others may indicate the staying power of NFTs in the art industry.
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