Moneycontrol PRO
Upcoming Webinar:Join us for 'The Future Techshot' on Sept 22, 10:30am to gain insights into role of tech in streamlining businesses. Register Now!
you are here: HomeNewsWorld

Another CyberPunk NFT up for sale for $90.5 million

The work is in the form of an NFT - meaning it is authenticated by blockchain, which certifies its originality and ownership.

August 02, 2021 / 09:12 AM IST
Some NFT enthusiasts see them as collectibles with intrinsic value because of their cultural significance, while others treat them as an investment, speculating on rising prices. [Image: Shutterstock]

Some NFT enthusiasts see them as collectibles with intrinsic value because of their cultural significance, while others treat them as an investment, speculating on rising prices. [Image: Shutterstock]


CryptoPunk, a non fungible token (NFT) of a digital artwork, has been put for sale for $90.5 million, cryptocurrency website The Block said in a report.

CryptoPunks are a set of 10,000 pixel-art characters made by Larva Labs in 2017. The one sold by Sotheby's -- "CryptoPunk 3100" -- is of the sought-after Alien variety with a headband.

The work is in the form of an NFT - meaning it is authenticated by blockchain, which certifies its originality and ownership. The NFT is sent to the buyer's cryptocurrency wallet; no physical artwork changes hands.

In June, another CyberPunk NFT fetched $11.8 million. It was bought by the Israeli entrepreneur Shalom Meckenzie, who is the largest shareholder of digital sports company DraftKings.

NFTs exploded in popularity in February and March. An NFT artwork fetched $69.3 million at Christie’s, in the first sale by a major auction house of an artwork with no physical form.

Close

Sales volumes have remained high after NFTs exploded in popularity early this year. Monthly sales volumes on OpenSea, a major NFT marketplace, reached a record high in June.

Sotheby's first NFT auction was in April, with digital works by the artist known as "Pak" fetching $16.8 million.

Some NFT enthusiasts see them as collectibles with intrinsic value because of their cultural significance, while others treat them as an investment, speculating on rising prices.

[Input from Reuters]
Moneycontrol News
first published: Aug 2, 2021 09:12 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark