CryptoPunks Recent NFT sale Breaks Record, Sold for 4,850 ETH or $16.4M
The recent sale of a CryptoPunks non-fungible token (NFT) has shattered records, with one of its nine Alien Punks fetching an astonishing price of 4,850 ETH, equivalent to $16.38 million. This sale, which occurred on Wednesday, marks the second-largest CryptoPunks sale in terms of both ETH and USD value, according to data from CryptoSlam.
The NFT, identified as CryptoPunks #7804, surpassed the previous record set by Punk NFT #3100 earlier this month, which sold for 4,500 ETH or $16 million. The seller of CryptoPunks #7804 revealed on Twitter that they had purchased the NFT in 2021 for 4,200 ETH, equivalent to $7.57 million at the time, and had been seeking a buyer for over a year.
CryptoPunks, created by Larva Labs studio in June 2017, has gained significant attention in the NFT space. While the overall NFT environment has experienced a downturn in recent years, this record-breaking sale signifies a potential revival in the market.
The sale of CryptoPunk #7804 highlights renewed interest in NFTs and could inspire both investors and creators to reevaluate the market. Despite recent volatility, projections indicate a promising outlook for the NFT market, with revenue expected to reach $2,378 million in 2024, according to data from Statista. Additionally, the number of users in the NFT market is forecasted to grow to 16.35 million by 2028.
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