Whale Spends $1M in Ether on CryptoPunk

A generous single buyer has spent the total sum of $1M on 34 CryptoPunk NFTs. The whale paid 557.5 ETH for the collectibles.

The CryptoPunk Collectibles

NFTs ( non-fungible token) refers to crypto tokens that can be characterized with any variable asset or artwork characteristics. Report from Larva labs reveals that 34 punks were acquired by an anonymous investor. The whale bought all the NFTs for 557.5 Ether.

This is a prove that NFTs are building momentum and many investors are setting their eyes on it. Notably, top auction house Christie’s has recently gotten involved in it.

Christie’s art specialist in New York, Noah Davis expressed his opinion on this while having a chat with Bloomberg.

He said “We’re at this precipice where crypto is going to be such a more established and mainstream mode of conducting business.”

He continued with, “With this [sale], I think it’s the perfect way to dip our toes in and give this a shot.”

Future of CryptoPunks?

The famous NFTs in CryptoPunk are Mohawk Thin and Frumpy Hai

Larva labs which is the firm coordinating the punk collectibles said the firm planned to freely give out the punks. A total of 10,000 unique CryptoPunk were to be given to anyone who has an Ethereum wallet.

The platform was created since 2018 and they have seen different changes.

As of May 2019, it was their busiest month since January 2018. It’s quite cool that two years after the launch new individuals are still finding the CryptoPunks. 

The other central issue is the manner by which the estimation of the Punks have changed over the long run. With the news of this latest buy it can be said that the change is quite amazing.