A rare alien CryptoPunk (#635) has sold for a whopping $12.5 million (4,000 Ether) through NFT broker Fountain. This sale marks the third alien CryptoPunk to be sold this year, bringing the total sales for this coveted category to a staggering $45 million (12,940 Ether). CryptoPunks are a collection of 10,000 unique pixelated avatars, each verified on the blockchain as a non-fungible token (NFT).
The buyer of CryptoPunk #635 remains anonymous. However, the high price tag reflects the immense value collectors place on rarity within NFT collections. Only nine CryptoPunks boast the alien trait, making them highly sought-after.
This sale follows two earlier alien Punk sales in 2024: CryptoPunk #3100 for $16 million (4,500 Ether) and CryptoPunk #7804 for $16.5 million (4,850 Ether). Notably, CryptoPunk #635 previously received a $16.4 million offer in March but was ultimately sold for slightly less.
While these high-profile transactions grab headlines, they exist alongside a broader NFT market experiencing a downturn. The CryptoPunks collection itself has seen its floor price (minimum asking price) plummet from a peak of $408,000 in October 2021 to roughly $117,000 today. This trend mirrors the decline observed in other popular NFT collections like the Bored Ape Yacht Club.
Overall trading volume within the NFT market has also experienced a dramatic drop since its peak in April 2022, fueled by the Yuga Labs’ Otherside metaverse project launch. Daily trading volume has fallen a staggering 99% to just $5.1 million as of Wednesday.
The sale of CryptoPunk #635 underscores the enduring appeal of rare NFTs for certain collectors, even amidst a general market correction. However, it remains to be seen if this trend can translate to a wider NFT market recovery.
