Defying Bear Market Trends, CryptoPunk 2924 Sells for $4.5 Million in ETH

It's the fourth-highest price for a CryptoPunk NFT and quite a morale booster at a time when NFT sales have hit the bottom.

It’s the fourth-highest price for a CryptoPunk NFT and quite a morale booster at a time when NFT sales have hit the bottom.

While industry data suggest a steep decline in NFT sales, there are quite a few individual ones that indicate the interest in such assets is shifting away from volume to value. In one such sale, CryptoPunk NFT #2924 went for a whopping 3,300 ETH, equivalent to nearly $4.5 million, Thursday afternoon.by pseudonymous NFT collector speedphrase, this is one of the highest prices since February 2022 when Punk #8522 was bought for 8,000 ETH, equivalent to $24 million at that time, the highest so far for a punk.

The hoodie ape punk sold today is one of the 24 punk apes and the 38th rarest out of a total of 10,000 created in 2017 by Larva Labs. Last time, it sold for 150 ETH, equivalent to nearly $71,400, in November 2020. In March 2022, Yuga Labs, the creator of Bored Apes Yacht Club and Mutant Apes Yacht Club NFT collections, bought the intellectual properties of CryptoPunks from Larva Labs. As a consequence, the floor price of Bored Ape Yacht Club NFTs recorded a whopping 25%

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Crypto_Potato /  🏆 568. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MetaMask adopts custodial features for NFT-hungry institutional investorsTavia Wong, director of marking and business development at Cobo, says additional features help institutions avoid internal failures and consequences of negligence.
Read more »

Salesforce NFT Cloud is Doing More for Web3 than Web3 startups | HackerNoonThey say this is a Bear market but I've seen two announcements this week that actually mean more than any other Web3 VC funding press release.
Read more »

NFT trading volume slumps since beginning of 2022Non-fungible token trading volume fell from $17 billion to $466 million in 9 months, according to data from Dune Analytics.
Read more »