CryptoPunk #635 Sells for $12.4 Million in ETH

Credit: CryptoPunks

NFTs haven’t experienced the same surge as crypto in recent months, but despite the naysayers, they’re far from “dead.” A rare ‘Alien Punk’ NFT selling for 4,000 ETH (or around $12.4 million) this morning to an anonymous collector is more evidence of that fact.

The sale, which was facilitated by crypto art brokerage Fountain, is the third jaw-dropping Alien Punk sale this spring. In March, Punk #3100 sold for $16 million in ETH and Punk #7804 sold for $16.4 million in ETH. The latter was the second highest CryptoPunk sale ever, behind Punk #5822, which sold for 8,000 ETH (or around $23.7 million) in February 2022.

Because there are only nine Alien Punks in the collection of 10,000, Alien Punks are extremely rare. This fact has led to enormous price tags over the years, as rarity is one of the key contributors to the value of digital collectibles.

CryptoPunks was launched in 2017 by Larva Labs as one of the first generative NFT collections. It is currently owned by Yuga Labs, creators of the Bored Ape Yacht Collection and others. While the recent sales indicate CryptoPunks has become a cultural artifact in Web3, BAYC has fallen on hard times.

Also an OG PFP NFT collection, the floor price of a BAYC on CoinGecko at the time of writing was 16.9 ETH, down significantly from its all-time high of 153.7 ETH on May 1st, 2022. CryptoPunks floor price is hovering around 39 ETH, with an all-time high of 125 ETH on August 29th, 2021.

While both collections remain down, the three huge sales of CryptoPunks in the last two months indicate the project remains highly coveted among NFT collectors. Moving forward, it will be interesting to see if Yuga Labs can help Bored Ape Yacht Club recover the clout it once held in the space.

A Review of Some Recent NFT Sales

The three big sales of the Alien Punks is certainly exciting for CryptoPunks holders, as well as a hefty payday for the sellers. But CryptoPunks isn’t the only NFT collection that’s been putting up big numbers recently. Let’s take a look at some of the top sales over the past year:

  • March 2024. DogWifHat Meme Image Sells as ETH NFT for $4.3M
  • February 2024. Tom Brady NFT from Dapper Labs Sells for $40,000
  • November 2023. Van Gogh NFTs Sells for $2.7 Million
  • July 2023. Vera Molnár Sells Out Generative Art NFT Set for 631 ETH
  • June 2023. Exclusive Alexia Putellas NFT from WoW Sells for $300,000
  • February 2023. Yuga Labs Winning Dookey Dash Key Sells for 1000 ETH

Besides big individual NFT sales, we’ve also seen some collections on the rise. Pudgy Penguins has been surging since November 2023, and even hit an all-time high floor price of 22.9 ETH on February 17th, 2024.

It will be interesting to see if CryptoPunks can continue to make news with big time sales. But considering the reputation and historical significance the Punks hold in the NFT space, we’re certain this isn’t the last time we’ll be writing about them.

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