Sotheby's Will Handle The Legendary 104 Cryptopunks Metaverse Autcion

2022-02-10 00:59:40
Historic NFT Auction

One of the world’s leading auction houses, Sotheby’s, reveal that it will auction 104 NFTs from the Cryptopunks collection, on the 23rd of February.

According to Sotheby’s, the Cryptopunks auction will be the latest Metaverse sale in line for the auction house, considering last year’s profitable NFT auctions.

More specifically, Sotheby’s revealed via Twitter that the auction will start in the evening hours of the 23rd of February, making for a ‘historic sale’.

Our next Sotheby’s Metaverse sale ‘Punk It! 104 Cryptopunks. 1 Lot.’ will be a landmark LIVE Evening Auction on February 23. A truly historic sale for an undeniably historic NFT project.Sotheby's | Official Statement

Furthermore, Sotheby’s expects the 104 Cryptopunks to reach a price somewhere between $20 and $30 million. However, considering the high demand for Cryptopunks, it won’t be a surprise if the end amount exceeds the expectations.

Bribing The Cryptopunks Miner

Moreover, the 104 Cryptopunks were purchased for $7 million, in July of 2021. The transaction was done via a single ETH block, with a rather interesting alleged story behind the purchase.

In particular, the news that circulated back then stated that the buyer of the Cryptopunks bribed the miner with five Ethereum. Consequently, this substantially inflated the price for the remainder 10.000 of the Cryptopunks collection.

According to the initial buyer of the 104 Cryptopunks, now seller, he purchased the NFT lot at the beginning of August 2021. Interestingly, the buyer that has a Twitter account with the nickname ‘0x650d’, compares the purchase to buying bitcoin for less than $10.

You’re wishing you could go back in time and buy Bitcoin below $10, back when you thought it was a fad or there would be dozens of coins like it. But you can’t. And there’s nothing like it. Same with NFTs: you can’t go back in time and be the first.0x650d | Seller of 104 Cryptopunks

Sotheby’s already has a very positive experience with auctioning NFTs, after selling 5 back in June for a multi-million dollar amount.

Considering that Cryptopunk #7523 sold for $11.8 million and that the base price for a single Cryptopunk is in the vicinity of $200 thousand, this upcoming NFT Metaverse Sale may very well be the biggest in history.

With its resources, logistics and experience, Sotheby’s is one of the few auction houses that can handle this massive 104 Cryptopunks NFT auction. With this in mind, we should definitely get a new record NFT auction, come February the 23rd.

Related Posts

Leave a Reply