Can you believe someone just paid $4.5M for an Ethereum NFT?

October 3, 2022

By Anjali Kochhar

Even as the NFT (non-fungible tokens) continued to dip significantly from earlier this year, collectors are using the bear market and the falling price of ETH as an opportunity to invest on their desirable digital art pieces.

According to a tweet, CryptoPunks NFT #2924 sold for nearly $4.5 million worth of ETH—the largest single NFT sale in recent memory.

“Punk 2924 bought for 3,300 ETH ($4,451,633.94 USD) by 0x9045de from 0x1da533. https://cryptopunks.app/cryptopunks/details/2924 #cryptopunks #ethereum,” the tweet read.

Measured in ETH, the 3,300 ETH sale price is the fourth-largest all-time for CryptoPunks—although it’s much further down the list when measured in terms of U.S. dollars at the time of sale.

CryptoPunk #2924 was sold by a notable pseudonymous NFT collector Seedphrase, although it’s not immediately clear who the buyer was.

CryptoPunks is one of the most valuable and influential NFT brands, as the Ethereum collection set the core template for modern profile picture projects.

The project was launched by Larva Labs in 2017, an early precursor of the NFT market craze of the last two years. Larva Labs ultimately sold the IP rights to Yuga Labs—the Bored Apes creator—in March of this year.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *