NFT Mania Is Back? Maybe Not, but a CryptoPunk Just Sold for a Record $56.3M
An indicator of the final cryptocurrency bull market was the remarkably excessive sale costs for numerous non-fungible tokens (NFTs).
The world has largely moved on from NFTs, with enthusiasm for crypto merchandise embellished with quirky pictures now straight towards memecoins – so, so many memecoins.
But, on Thursday, an indication of bull markets previous returned: A CryptoPunk NFT simply bought for a document value of $56.3 million. The prior all-time excessive of $23.7 million was set in February 2022, months earlier than the crypto winter obtained actually darkish.
Punk 1563, depicting a pixelated lady with darkish hair and blue eyes, fetched 24,000 ether (ETH) within the transaction. As not too long ago as September, it was provided on the market for lower than 30 ETH – that means the most recent deal represented an enormous markup versus current pricing.
NFTs have traditionally seen all method of weirdness round gross sales. There was the time in 2021 when one other CryptoPunk technically bought for $532 million, although blockchain information clearly present the identical particular person was on each side of the commerce.
And there have been allegations that NFT have been used for cash laundering.
It is not clear what the motivations have been for Punk 1563, although.
