Pixelated cartoon faces sell for millions of dollars
The CryptoPunks NFT collection has completely dominated the Top 10 NFT Sales over the past week. The top punk sold for more than $5,4 million, setting a new benchmark for CryptoPunks sales, while someone made $1 million flipping punk 6649 within 24 hours.
While the most expensive punk sold for $5,45 million, serial entrepreneur Gary Vaynerchuk acquired another ape punk for $3,76 million. Together with these two ape punks, another five punks sold for $1 million or more.
These top sales happened at the same time as Mining DAO acquired all the floor-priced punks. As a result the cheapest punk on the market now costs 33 ETH or $85,000. Most of the punks in the top sales are either apes or zombies.
Remarkable is the sale of punk #6649, which sold first for $1,04 million (450 ETH), and then changed hands again one day later for $1,99 million or 810 ETH. That’s almost $1 million profit within one day.
Top 10 NFT Sales – July 26th / Aug 1st
- CryptoPunks, #5217 – $5,45 million / 2,25k ETH – Buyer’s wallet
- CryptoPunks, #2140 – $3,76 million / 1,6k ETH – Buyer’s wallet
- CryptoPunks, #3831 – $2,08 million / 850 ETH – Buyer’s wallet
- CryptoPunks, #6649 – $1,99 million / 810 ETH – Buyer’s wallet*
- CryptoPunks, #8472 – $1,71 million / 700 ETH – Buyer’s wallet
- CryptoPunks, #6649 – $1,04 million / 450 ETH – Buyer’s wallet*
- CryptoPunks, #2329 – $1,04 million / 450 ETH – Buyer’s wallet
- XCOPY, how does that feel – $778,850 / 300 ETH – Buyer’s wallet
- CryptoPunks, #8865 – $740,000 / 300 ETH – Buyer’s wallet
- CryptoPunks, #7996 – $738,580 / 300 ETH – Buyer’s wallet
NFT trading volumes up all over the place
Thanks to several big purchases from investment funds like Three Arrow Capital and Mining DAO, there have been some big purchases across many NFT collections. CryptoPunks saw its trading volume increase 1,223% in one week to more than $121 million.
Other collections like Art Blocks (+321%), Bored Ape Yacht Club (+193%), and Meebits (+632%) have seen their trading volume punk tremendously. There’s strong demand in the NFT space for avatar projects and on-chain generated artworks.
Despite this strong trend, the biggest NFT collection is still a gaming project: Axie Infinity. In the past 7 days, Axie Infinity has seen its trading volume increase 12% to more than $170,5 million. However, the average price of an Axie NFT is $558. That’s rather cheap compared to the average price of CryptoPunks and Art Blocks, at $125,506 and $4,894 respectively.