CryptoPunks NFTs Get $6M in Bids From a Single Account |


NFTs are here to stay.
CryptoArt is hotter than ever.
CryptoPunks keep breaking records.

As Christie’s auction approaches, the demand for the original NFTs rises. Today, an anonymous and recently created account placed bids worth 3,034 ETH for 16 CryptoPunks. At the current price, that’s $6,309,476.33. This fact makes the story even more interesting: so far, none of the bids have been accepted.

Widely regarded as the original NFTs, the CryptoPunks contract was created on June 22nd, 2017. The project consists of 10.000 units. Each one is a 24×24 pixels, 8-bit image. The creators describe them as: “distinctly digital work, comprising both the image of the characters and the blockchain mechanisms for ownership and auction.

How To Get Free Crypto  

John Watkinson and Matt Hall built the mostly automated pixelated character generator that created them. At the very beginning, they were free. To claim a CryptoPunk all you had to do was pay the necessary Ethereum gas to power the transaction.

In the first week, only 20 or 30 found new homes. Nevertheless, Mashable wrote a story about the project and within hours every single one was gone. Except for the 1.000 the creators set aside for themselves, that is. 

Fast forward four short years and the biggest auction house in the world is selling nine of those pieces for $7.000.000. Not only the biggest, one of the most respected. A household name in the art world. What does this mean for the NFT market as a whole?

Christie’s 21st Century Evening Sale will take place in New York on May 13th.

Analysis of today’s $6M bids

Even though they might seem like vanity bids or even drunken bids, there’s something strategical about them. This recently created account got high praise on Twitter for its CryptoPunks selection, “great taste” a few people said. But the thing is, this anonymous person seems to know the market.

Coinbase Banner  

Of course, $6M is a lot, but if you check the prices of those that were up for sale another story emerges. The anonymous buyer offered less than the asking price each and every time. And to the ones that were not for sale, the person’s offers were certainly higher than previous bids, but not by a crazy amount. The anonymous buyer knows what it’s doing.

And so do the CryptoPunk holders, because they’re not selling.

ETH price chart on Kraken. Source: ETH/USD on

Cut to the Artchick.eth Twitter account, reporting live from the CryptoPunks Discord, “200 punks just got bought up for several millions of dollars in the past 2 hours since Christie’s announced a punk sale.” According to her, a rare zombie punk sold for around $800K. That makes it one of the all-time high sales in CryptoPunk’s history.

In a blog post from 2019 titled “CryptoPunks Two Year Anniversary,” the project’s creators said “We’re so happy to see the CryptoPunks still going strong two years after their introduction. We can’t wait to see what happens in year three and beyond!

Nowadays, we know what happened. And things are just getting started.

Photo by Viktor Forgacs on Unsplash

Go to Source
Author: Eduardo Próspero

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.