A non-fungible token collector’s item has sold for over $750,000 in ETH to become one of the most expensive NFT items to be sold.
As initially reported by Cointelegraph, a specific NFT token from the CryptoPunks digital collectible characters catalogue sold for 605 ETH which is worth more than $750,000 at the current market price of Ethereum.
The CryptoPunks universe is inspired by the cryptoart movement and is made up of more than 10,000 unique, digital characters. The quirky Ethereum-based NFT avatars can be bought and sold today on the CryptoPunks marketplace, but all 10,000 were originally free to anyone with an Ethereum wallet but the community quickly snapped up all of the NFTs.
According to the CryptoPunks website, the average sale price of one of the NFTs is around $6567 while the total value of sales of the various CryptoPunk avatars is worth over $28mln.
Rare Alien punk highly sought after
The NFT in question is number 2890, a rare ‘alien’ Punk of which there are only nine among the 10,000 CryptoPunks. Number 2890 was originally claimed in June 2017 before being sold by that particular owner just a month later for over $2000 worth of ETH.
The new owner waited almost four years before selling the Punk on auction in January 2021 for a whopping 605 ETH, or $761,889.
Both Cointelegraph and Coindesk reported that the NFT had been purchased by a group of investors which is said to include FLAMINGODAO, a group that supports and collects premium NFTS.
A recent blog by KuCoin rounded up some of the most expensive NFT purchases made over the past few years, including a CryptoKitties NFT called Dragon that is listed for sale at 600 ETH.