CryptoPunk #5822 Sold for Record-Breaking 8,000 ETH, $23.7 Million USD (2024)

FAQs

CryptoPunk #5822 Sold for Record-Breaking 8,000 ETH, $23.7 Million USD? ›

According to reports, a CryptoPunks NFT has been sold for a record-breaking 8,000 ETH (approximately $23.7 million USD). Verified by the CryptoPunks Bot Twitter, the sale of CryptoPunk #5822 serves as the biggest CryptoPunks NFT purchase in history.

Deepak Thapliyal, CEO of a blockchain infrastructure startup called Chain, bought the iconic blue Alien Punk that rocks a bandana in February for roughly $23.7 million.

CryptoPunks NFTs were sold 26 times in the last 7 days. The total sales volume for CryptoPunks was $2.85M. The average CryptoPunks NFT price was $109.5k. There are 3,679 CryptoPunks owners, owning a total supply of 9,997 tokens.

CryptoPunk #5822: $23.7 million (8000 ETH)

Sale details: The most expensive CryptoPunk ever sold is punk #5822. The alien-style punk featuring a blue bandana sold for $23 million on February 12, 2022 — more than double the cost of the next highest-grossing punk. The buyer is the CEO of Chain, Deepak Thapliyal.

Despite the transaction being legit, they were made to create hype around the NFT market and further drive the price of CryptoPunks. CryptoPunk #9998 was technically never sold; a mix of transactions were just made between addresses.

Jay-Z was one of several celebrities who have purchased CryptoPunks. The floor price on CryptoPunks was around 30.3 Ethereum when Jay-Z changed his profile picture.

Some CryptoPunks are more valuable than others depending on the rarity of their attributes or species. There are just 24 apes, 9 aliens, 128 rosy-cheeked Punks, 78 with buck teeth, and 44 wearing a beanie. A CryptoPunk that possesses multiple rare attributes can fetch an extremely high price.

CryptoPunks is the most valuable NFT collection with a $2 billion market cap and a floor price of 66.95 ETH ($81.59K). CryptoPunks was not the first NFT collection on the Ethereum blockchain, but was the first PFP (Profile Picture project) and was the first NFT project to implement the 10,000 token supply cap.

On March 11, 2022 it was announced that all of the CryptoPunks IP was acquired by Yuga Labs (parent company and creators of the Bored Ape Yacht Club project) for an undisclosed sum.

Figma CEO (and former CryptoPunk #7804 owner) Dylan Field joins the Source Code podcast to talk about crypto art, owning digital objects and the future of creativity. CryptoPunk 7804, the 'digital Mona Lisa.

Who buys CryptoPunks? ›

Yuga Labs acquires CryptoPunks and Meebits.

CryptoPunk #5822 Sells For 8,000 ETH

The CryptoPunk #5822 which had sold for 8,000 ETH, more than $23 million had been bought by the CEO of Chain, Deepak Thapliyal. It is the most expensive CryptoPunk NFT to be sold to date.

Holders of a CryptoPunk can prove ownership through the Ethereum-based smart contract hash, which is basically the unique digital key confirming they are the rightful owners. This key allows them to buy, sell and trade digital NFTs in the same way physical collectibles can be traded.

A CryptoPunk is a piece of art and a form of asset tokenization that can sell in the NFT marketplace for millions of dollars. Many celebrities and influencers own one or more of these 24×24-pixel, 8-bit-style unique avatars.

In brief. A CryptoPunks NFT apparently sold for $532 million worth of ETH tonight. Larva Labs says it was due to someone playing around with flash loans, and isn't technically a legitimate sale.

Jay Z — CryptoPunk #6095

Rapper Jay Z revealed that he purchased a CryptoPunk in 2021 for 55 ETH ($126,000 at the time). Along with buying NFTs, the rapper is also selling NFTs. Shortly after his crypto purchase, an NFT based on his debut album "Reasonable Doubt" was sold at Sotheby's for $139,000.

American entrepreneur Gary Vee owns 59 CryptoPunks, including Ape Punk 2140 and Zombie Punk 2424.

Shawn “Jay-Z” Carter owns CryptoPunk #6095 — currently his Twitter profile icon — which he bought for over $120,000 worth of Ethereum.

CryptoPunk #5822

The digital avatar wears a blue bandana and belongs to the Alien type, one of the rarest among CryptoPunks, with only 0.09% of Punks having this attribute. In addition, the bandana is worn by only 5% of the collectibles.

Atop the list was “Clock” by pseudonymous NFT artist Pak which sold for a whopping $53.7 million, the second-highest NFT price ever, trailing on only last year's “Everydays — The First 5000 Days” at $69 million.

What is the largest NFT platform? ›

The largest NFT market in terms of both users and transactions is OpenSea. Users of the platform can find new collections and artists as well as buy and sell NFTs. Art, music, videos, games, and other digital assets are all supported by OpenSea.

CryptoPunks are a limited collection of 10,000 non-fungible tokens programmed for the Ethereum blockchain. CryptoPunks (or rather its creator Larva Labs) makes money by selling the NFTs they own. Larva Labs does currently not disclose how many CryptoPunk NFTs it possesses.

The Future of CryptoPunks

As the demand for CryptoPunks grows, the value of these digital assets may increase. One factor that could potentially drive demand for CryptoPunks is the rising popularity of non-fungible tokens (NFTs). NFTs, like CryptoPunks, are unique digital assets that are stored on the blockchain.

Right now, 1 Ethereum is worth about $1,854.15.

Launched on 23 June 2017 by studio Larva Labs, CryptoPunks were originally free to acquire for anyone with an ETH wallet. There are a total of 10,000 Punks, each with their own distinct characteristics – no two are exactly alike.

NFTs, or non-fungible tokens, are unique cryptocurrency tokens that can represent an image, video or piece of music. This specific CryptoPunk was purchased on April 25 for 55 ETH, worth $126,000 at the time (although just $102,000 today).

To buy a CryptoPunk, scroll down the marketplace page to the section “For Sale” then click where it says to click to see all Punks for sale (or use this link). There, a user can choose a Punk that appeals to them. Once chosen, users can choose to bid or buy the Punk at the offered price.

Current Market Status

This Punk is currently owned by address 0x67954a.

Nick Tomaino Reveals Why He Bought Punk 4156 for $3.3 Million.

OpenSea, the world's largest NFT marketplace, has delisted CryptoPunks V1 due to a legal dispute with Larva Labs. The 10K collectibles, which are breathtakingly similar to the renowned CryptoPunks NFTs, are derived from the same smart contract as Larva Labs' collection.

Who buys the NFTs? ›

They are used to gain an advantage in the game. Another reason gamers buy NFTs is to own a piece of digital history. Many NFTs are based on popular games, franchises, and characters, so owning an NFT is purely aesthetic. Gamers can also make money by buying NFTs and then reselling them at a higher price.

It acquired 423 CryptoPunks and 1,711 Meebits. Terms of the deal weren't disclosed. CryptoPunks' average selling price is about $177,420, per DappRadar, while Meebits sell for an average of $16,100. So the deal is likely worth more than $100 million, just considering the price of the valuable NFTs Yuga received.

Amazon.com: Galaxy S8 Cryptopunk #5822 $23.7 million, Crypto, Punk, Nft, Case : Cell Phones & Accessories.

Serious buyers want to know that the listing will not change after they buy your NFT. However, once you freeze the metadata it can never be changed. If the item doesn't sell, it can be deleted and re-minted, but that costs more gas fees.

If I sell my artwork as an NFT, do I still own the rights? Who owns the art? NFTs typically only have one owner at a time (we'll go into fractional ownership another time). An owner of the NFT is assigned through the minting process and this ownership can then be transferred when the asset is sold.

And he mocked Bored Apes NFTs, joking that “expensive digital images of monkeys” will “improve the world immensely.” Instead, Gates said he prefers old fashioned investing. “I'm used to asset classes, like a farm where they have output, or like a company where they make products,” he said.

CryptoPunks is a non-fungible token (NFT) collection on the Ethereum blockchain. The project was launched in June 2017 by the Larva Labs studio, a two-person team consisting of Canadian software developers Matt Hall and John Watkinson.

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The CryptoPunk #5822 which had sold for 8,000 ETH, more than $23 million had been bought by the CEO of Chain, Deepak Thapliyal. It is the most expensive CryptoPunk NFT to be sold to date.

Which CryptoPunks does Snoop Dogg own? ›

Snoop Dogg is a Secret NFT Whale

By browsing through Medici's wallet, we can see that he owns multiple tokens from the collections of Cryptopunks, Bored Ape Yacht Club, Meebits, World of Women, Moondbirds, CrypToadz, CyberKongz, Invisible Friends, PROOF Collective, and more.

CryptoPunk's high valuation could also be attributed to the fact that it is one of the oldest NFTs, which makes it an OG, giving it socio-cultural significance.

The most famous example of this is the CryptoPunks project, where there were only 10,000 unique cryptopunks. Each punk has a combination of the same types of attributes (i.e., hair, eyes, and skin color), with some of these attributes rarer than others, making some cryptopunks more expensive than others.

On Saturday, CryptoPunk #5822 sold for 8,000 ETH, or about $23.7 million worth at the time of sale. Deepak Thapliyal, CEO of cloud blockchain infrastructure firm Chain, purchased the NFT directly from CryptoPunks developer Larva Labs' own online marketplace.

The purchasers/holders of CryptoPunks can likely loan or rent out the image and token they purchased, much like the owner of a painting could let someone else display that copy.

A CryptoPunk is a piece of art and a form of asset tokenization that can sell in the NFT marketplace for millions of dollars. Many celebrities and influencers own one or more of these 24×24-pixel, 8-bit-style unique avatars.

CryptoPunks is a crypto art initiative that generated ten thousand different 24×24 punk-looking avatars. There are a few rares ones, like apes, zombies and aliens. Besides being a digital collectible, the project doesn't offer any additional usage.

CryptoPunks are a limited collection of 10,000 non-fungible tokens programmed for the Ethereum blockchain. CryptoPunks (or rather its creator Larva Labs) makes money by selling the NFTs they own. Larva Labs does currently not disclose how many CryptoPunk NFTs it possesses.