A Cryptopunk Sold For Over $10 Million

Cryptopunk

A Cryptopunk has recently sold for over $10 million. It was originally part of the Natively Digital art exhibition, where attendees were able to see the history of NFTs. Previously, only the first Cryptopunk had been sold. This piece was purchased by the largest shareholder of the website DraftKings. Now, the work is being sold at a high price, resulting in the world’s largest cryptopunk sale ever.

The price of the piece has raised eyebrows across the cryptocurrency world. Its most expensive Cryptopunk ever sold for more than $10 million was a 2,500-ETH piece. The CryptoPunk collection has gained the interest of Ethereum advocates, auction houses, and celebrities alike. Its popularity is increasing exponentially, and it is not just the artwork that is rising in value. Recently, a CryptoPunk sold for over $11.8 million at an auction hosted by Sotheby’s.

Cryptopunk NFT

The Cryptopunk NFT, a limited-edition print of a pixel-art character, has sold for over $10 million, the highest price for a CryptoPunk to date. The print is made from 2,500 Ethereum. While this is a record price for a CryptoPunk, it is not the most expensive CryptoPunk to date. In fact, the most expensive CryptoPunk sold for over $11.8 million at Sotheby’s auction in June.

The latest NFT to sell for a massive amount of money was the ‘Ape’ Punk, which has earned a stellar reputation in the CryptoPunk community. This particular NFT was one of only 24 ‘Ape’ Punks in the entire 10,000-piece CryptoPunk collection. The number is also one of the most valuable CryptoPunks, and has a remarkable history. The sale was completed over-the-counter by Sillytuna for around 4,200 Ethereum.

Cryptopunk’s scarcity

Unlike physical goods, CryptoPunks are not fungible. These tokens have an exponential value increase and are unique digital items. The scarcity of CryptoPunks is similar to the soaring prices of digital art and collectibles. CryptoPunks are limited in number, but their popularity led to their creation and rise to great heights. Here are some common uses of CryptoPunks and their relative scarcity.

For example, NFT’s ownership story started four years ago, and the first bid did not come until 2020. Because the first bid was so far away, it became a media topic, and the owner received little publicity. When it finally came to the auction, a popular NFT influencer, Pranksy, saw the potential in the punk and bid a cheeky 1.5 ETH. However, when the auction ended without a sale, Pranksy bailed and gave up.

The creators of CryptoPunks hoped to study the dynamics of scarcity. The characters, which measure 24×24 pixels, are algorithmically generated. Each one is unique, with some being rarer than others. Each character has different traits and can be owned by only a single wallet linked to the Ethereum blockchain. Because of the rarity of CryptoPunks, the game has drawn comparisons to Pokemon. The creators of the game made it possible to make the scarcity of CryptoPunks so high that they are a valuable commodity.

Larva Labs’ involvement with Cryptopunk

The reason for Larva Labs’ involvement with CryptoPunks is not completely clear. The company, which created the CryptoPunks NFT project, has faced a backlash from the community over how they handled V1 CryptoPunks, a company that was born from a CryptoPunks smart contract. In the course of the controversy, the co-founder of Larva Labs sold off his stock and attempted to blacklist the company’s product.

Fortunately, the controversy has not sparked a major firestorm, and Larva Labs has publicly apologized for its involvement. Hopefully, the scandal will prevent another one from happening. Hopefully, the public will never have to suffer a similar situation again. If you have been a fan of Larva Labs’ games, here is your chance to show your support. In the meantime, make sure to read the full article.

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