CryptoPunks record another $16M NFT sale in March

CryptoPunk #7804 sold for 4,850 ETH, worth about $16.4 million, taking the record for the second-largest CryptoPunk NFT sale.

Blue-chip nonfungible token (NFT) collection CryptoPunks saw another record-breaking sale in March, as one more rare alien piece sold for about $16 million in Ether (ETH).

On March 20, CryptoPunk #7804 was purchased for 4,850 ETH, worth about $16.4 million at the time of sale. The NFT sale claimed the second-highest selling price ever for a CryptoPunk. The CryptoPunk transaction follows another high-profile NFT sale this month.

On March 4, CryptoPunk #3100 sold for 4,500 ETH, worth around $16 million at the time of sale. That transaction holds the record for the third-largest CryptoPunk sale after being pushed down by the recent #7804 punk sale.

Top CryptoPunks ranked by sales price. Source: CryptoPunks

CryptoPunk #7804 is one of 10,000 NFTs within the collection. However, its value comes from the rarity of its attributes.

The character in the NFT has its cap forward, which only 254 CryptoPunks have. It has a pipe, which only 317 of the NFTs have, and small shades, which only 378 CryptoPunks have. However, what truly makes the digital asset rarer is that its one out of only nine alien CryptoPunks.

Peruggia, the NFTs seller, posted on X to express thoughts on the sale. The CryptoPunk seller described the sale as the “end of an era” and confessed to feeling like an imposter and holding NFTs back by not elevating the piece to what it deserves.

Source: Peruggia

Peruggia bought the CryptoPunk in March 2021 for 4,200 ETH, worth $7.5 million at the sale. The NFT trader held onto the piece for over three years despite being offered around $18 million in 2022.

The transaction also held the record for the second-largest CryptoPunk sale before the two $16 million sales this month.

Source: FVCKRENDER

Community members praised the sale, with many congratulating the seller and giving words of appreciation for holding the NFT asset.

The sale of CryptoPunk #7804 catapulted the NFT collections sales volume to surpass other popular NFTs like NodeMonkeys and Mad Lads in weekly sales. According to NFT data tracker CryptoSlam, CryptoPunks recorded $21.5 million in sales in the last seven days.

With high-profile NFT sales happening in multiple blockchains, transaction volume for NFTs started skyrocketing. In the last 30 days, NFTs recorded $1.5 billion in sales volume across multiple blockchain networks.