Sale of CryptoPunk #7804 for $16,42 million was the collection token’s second-largest trade ever

What’s new? On March 20, CryptoPunks’ NFT collection token number #7804 was resold for 4850 ETH, which was over $16,42 million at the time of the transaction. The new owner has not publicly announced the purchase, but it is known that he sent the funds for payment to his Ethereum wallet from the crypto exchange Coinbase. The previous owner under the nickname Peruggia bought CryptoPunk #7804 in March 2021 for 4200 ETH, which amounted to about $7,6 million at the time.

Source: Twitter.com

What else is known? Peruggia commented on the deal, calling it “end of an era.” “I’ve long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves. After over a year of looking around I feel I’ve found the right buyer with the right vision to appropriately elevate this asset,” stated the seller.

Source: Twitter.com

The sale of #7804 was the second-largest CryptoPunks trade ever. The previous second largest trade was the sale of token number #3100 for 4500 ETH worth $16,03 million, which took place on March 4 this year.

The largest transaction remains the sale of CryptoPunk #5822 for 8000 ETH worth $23,7 million on February 12, 2022, with Chain CEO Deepak Thapliyal becoming the new owner of the asset.

CryptoPunks is one of the first and most expensive NFT collections on the Ethereum blockchain and consists of 10,000 non-fungible tokens in the form of 24×24 pixel images of people. It was launched in June 2017 by Larva Labs studio and bought in 2022 by Yuga Labs, which is also the creator of one of the most famous NFT collections, Bored Ape Yacht Club (BAYC).

Last March, the collector accidentally burned CryptoPunk #685 worth $129 000, and in June, CryptoPunk token #8611 was converted from Ethereum to the Bitcoin network using the Ordinals protocol.

According to CryptoSlam, at the time of writing, total sales of CryptoPunks are approaching $2,79 billion. There are 1020 tokens from the collection on sale, with the cheapest one costing 49,75 ETH or over $171 500.