Prized nonfungible tokens with historical significance are still fetching multi-million dollar prices, despite the recent NFT frenzy starting to cool.
Christie’s, on May 12th tweeted that an auction for nine tokens from pioneering NFT CryptoPunks had cleared for nearly $17 million combined. Christie is a famed New York-based auction house
Some Twitter users speculated that the winning bidder scored a bargain, despite the tokens fetching millions.
CryptoPunks were limited to 10,000 tokens in total and was lauched by Larvalabs in 2017. Also, with unique features inspired by the London punk movement, such as hair styles, jewellery, and sunglasses, the NFTs depict randomly generated pixelated portraits
To display CryptoPunks in public spaces in New York and ahead of the auction, Christie’s teamed up with non-profit and urban art proponent SaveArtSpace.
Showcasing 193 CryptoPunks from May 10 until June 6, and expands a similar public exhibition of CryptoPunks held in Miami during April, the public exhibition, dubbed Pixelated.
Adult streaming platform, CamSoda, is also jumping on the CryptoPunk bandwagon, announcing it will host a live no-reserve auction of CryptoPunk #7060 on May 13. Auction attendees must deposit the grand total of at least $1 worth of crypto assets into their CamSoda account to participate.
CamSoda’s vice president, Daryn Parker, stated: “Right now we are in the midst of a NFT gold rush. NFTs are crypto’s hottest investment space so far in 2021, with millions in trades and rare collectibles like CryptoPunks selling for huge sums.”