For $3.9 Million, CryptoPunk’s Zombie is Sold
Even though the trading volume of CryptoPunks is dropping, Punks continue to command high prices. Earlier this week, the amount of CryptoPunks sold decreased for a brief period, and the Punk boom appeared to be coming to an end. Not so fast, my friend.
Pranksy, a well-known NFT collector, has purchased a single CryptoPunk Zombie for a whopping $3.9 million.
This is the seventh-largest CryptoPunk transaction to take place to date. In one day on March 11, a Punk sold $7.58 million worth of Ethereum to a total of 4.2k Ethereum. This set a new milestone for Larva Labs’ most significant sales. It was the most costly at 11.8 million dollars, although it was sold outside of the Larva Labs ecosystem.
The zombie on display today is one of 88 Zombie Punks selected from among the 10,000 avatars created for the project. The Avatar is one of 526 people who have a shadow bar, and there are only 428 people who have the same dark mohawk as the Avatar.
According to CryptoSlam, sales account for less than a third of CryptoPunk’s daily trading volume and are one of just 14 currently active cryptocurrencies. The CryptoPunk, a guy with tiny sunglasses and a $371,495 hat, has been offered since then, but just one has been found.
Punks, on the other hand, are seeing a decline in sales. It is not known if this is because individuals host their CryptoPunks, who have evolved to spend their money on social networking sites such as Twitter and have grown tired of the avatars, or whether it is due to other factors.
On August 22, sales increased from $14 million to $134 million, and then on August 25, sales dropped to $47 million, according to the company. A second high point occurred on August 28th, when the volume of trading for the first time topped $195 million for the first time in the history of the market. Except for a brief spike to 40 million dollars on September 1, sales have decreased to around 22 million dollars every day since then.
Instead, they invest in other non-financial-transaction companies. The Mutant Ape Yacht Club, a breeding program run by the Bored Ape Yacht Club, has produced $220 million in revenue in the last week. Loot, a collection of text images generated at random, has amassed a total of $173 million in commercial volume so far.
CryptoPunks, the most popular project on the block, has risen to fifth place on the CryptoSlam weekly sales leaderboard, surpassing all other projects combined.