Along with other unique NFTs or non-fungible tokens, Sotheby’s will auction a rare CryptoPunk as part of its Natively digital: an organized NFT sale next week.
CryptoPunk, number 7523, will be sold June 10, with early auctions starting Thursday, according to Sotheby’s.
CryptoPunks are an assortment of 24×24 pixelated avatars. There are 10,000 in total, and no two are exactly alike. Each has their own unique features and accessories.
Known as one of the first NFT projects, CryptoPunks was started in 2017 by the founders of Larva Labs, Matt Hall and John Watkinson. Originally, CryptoPunks were offered to everyone free, but have recently sold for millions of dollars.
Nicknamed “Covid Alien”, CryptoPunk 7523 is considered a rare collector’s item. He’s one of nine “alien punks” in the entire series, and he’s the only one with a mask.
Its current owner, known as Sillytuna, purchased CryptoPunk 7523 earlier this year, as an NFT collector. alluded to on Twitter in May.
“With the Beeple sale [then] looming, I was sure the #CryptoPunks were going to explode even more, so I once again braved a mad buy from NFT – the Covid Alien, ”Sillytuna wrote.
Sillytuna added: “I knew I would have options, but I was also ready to go for years. I believe in #CryptoPunks as avatars and VIPs, as you should be.”
The last public sale of CryptoPunk 7523 was in 2017 for 8 ether, which was then worth $ 1,646. However, Sillytuna is said to have obtained the NFT more recently for an undisclosed amount – it is not publicly recorded as typical sales are because it was conducted as an over-the-counter or over-the-counter trade, Sillytuna says Cointelegraph.
While CryptoPunk 7523 has no published estimate, two other “alien punks” recently sold for over $ 7.5 million each, according to CryptoSlam, and seven other CryptoPunks sold for over a million dollars. In May, a collection of nine CryptoPunks sold for almost $ 17 million at Christie’s.
“CryptoPunks have become some of the most sought-after NFTs on the market,” Michael Bouhanna, contemporary art specialist at Sotheby’s, told CNBC Make It. “We’ve seen strong interest from traditional art customers and collectors in the NFT community – and auctions start at just $ 100.”
In the last 30 days alone, there have been more than $ 64 million in CryptoPunks sales, CryptoSlam found.
Sillytuna does not intend to keep all profits and will donate 10% of the proceeds from the sale, according to a press release from Sotheby’s. Of this 10%, 5% will be donated to Larva Labs to support the development of more NFT projects, and the remaining 5% will be donated to Covid-19 relief organizations.
Sotheby’s will also donate a portion of its proceeds to nonprofits within the NFT community, including the Sevens Foundation, which focuses on elevating artists..
As part of Natively Digital: A Curated NFT Sale, other works will also be sold alongside CryptoPunk 7523, including the “first” NFT created by Kevin McCoy, and rooms by popular crypto artists Sarah Zucker and Matt Kane.
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