And a rare CryptoPunk #3100 just sold for 4,000 ETH, over $7 million. This famous NFT from the CryptoPunk collection is currently valued at about $6.08 million at today’s market prices. This figure is among the largest seen in the NFT space. While still a notable amount, it represents a huge fall from the value of its original purchase price, suggesting a changing attitude from the investor class in the NFT space.
CryptoPunk #3100 is notable as one of just nine “alien” types. Larva Labs released 10,000 unique characters in 2017. It has a distinctive headband feature, distinguishing it from dozens of other headsets. This unusual quality makes it a highly valued digital collectible.
CryptoPunk #3100 was recently sold for an incredible amount of 4,500 ETH. In today’s world, that’s the equivalent of more than $16 million! This most recent sale is an indication of a real and dramatic contraction in value. The current minimum asking price for a CryptoPunk is under 42 ETH, about $65k. This recent decline is consistent with the recent trend of lowering floor prices for these pricey digital collectibles.
The recent $7.6 million sale of CryptoPunk #3100 dramatically illustrates this new reality of the NFT marketplace. While individual NFT projects or the NFT ecosystem overall may experience temporary booms supported by fresh cycles of speculative hype, the trend overall is surely downward. This new sale is further proof that a new investor focus has emerged. Even amid wider market chaos, unusual works continue to stand out and make headlines.
Even during the current crypto winter, CryptoPunk #3100 went for more than $6 million. This is evidence that even uniquely rare, culturally historic NFTs continue to fetch eye-popping prices. This recent NFT sale continues to expose the risky nature of the NFT marketplace. In this realm, rarity, historical significance, and community perception are often what shapes value.
