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NFT CryptoPunks, record sales and colossal errors

One NFT of the famous CryptoPunks was put up for sale for $90 million, and another for over $357 million.

These are the CryptoPunk 3100, and the CryptoPunk 7804. Both are part of the Alien Punks series. There are no bids on either of them at the time of this writing. However, if either purchase goes through, it would be the largest transaction ever for an NFT.

The CryptoPunk 3100 has a bandana, while the CryptoPunk 7804 has a cap, pipe and beard. The former was last sold on 11 March 2021 for 4,200 ETH for $7.58 million, the same amount and on the same day that the 7804 was sold.

What are NFT Cryptopunks?

Cryptopunks are particular NFTs created by Larva Labs back in 2017, well before the non-fungible token boom. They are divided into four categories: humans, zombies, monkeys and aliens.

They depict “pixelated” images of faces, registered on the Ethereum blockchain. There are 10,000 of them. Of these, 24 have also been turned into prints and sold at auction by Sotheby’s.

CryptoPunks mania

CryptoPunks are the subject of a craze. Just a few days ago, an anonymous investor reportedly bought 88 CryptoPunks at once, investing 5.5 million dollars.

The story of CryptoPunk 3860, on the other hand, is unusual. It is a man’s face, with a cigarette, glasses, beard and a mohawk. The owner mistakenly put it up for sale for a penny, after paying around 30 ETH on 29 July. Somebody actually managed to buy it, but not cheaply. For the buyer, it was necessary to “bribe” an Ethereum miner with 22 ETH in order for the transaction to be validated in a single block. To do this, the Flashbots protocol was used.

The buyer therefore spent around USD 57,000, but was then able to resell the valuable NFT for USD 136,000. However, the CryptoPunk 3860 is still on sale for 130 ETH (approx. $360,000), proving one thing: CryptoPunks are the NFTs of the moment.

Eleonora Spagnolo
Eleonora Spagnolo
Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.