CryptoPunks Achieve $16 Million NFT Sale Milestone in March

March marked another significant milestone for the renowned CryptoPunks collection, with CryptoPunk #7804 fetching approximately $16 million in Ether, or 4,850 ETH, securing its position as the second-highest sale within the CryptoPunks NFT ecosystem.

The sale, which occurred on March 20, witnessed CryptoPunk #7804 exchanging hands for a sum equivalent to $16.4 million at the time of the transaction. This achievement follows closely on the heels of another notable NFT sale earlier in March.

Previously, on March 4, CryptoPunk #3100 was sold for 4,500 ETH, valued at around $16 million during the sale, marking it as the third-largest CryptoPunk sale until the recent transaction involving #7804.

CryptoPunk #7804 is one among the 10,000 NFTs present within the CryptoPunks collection, deriving its value primarily from its rare attributes. Notably, the character depicted in the NFT sports a forward-facing cap, a trait shared by only 254 other CryptoPunks. Additionally, it features a pipe, a characteristic possessed by just 317 NFTs, along with small shades found on only 378 CryptoPunks. However, what truly sets this digital asset apart is its rarity as one of only nine alien CryptoPunks.

The seller of the NFT, known as Peruggia, took to social media platform X to reflect on the sale, describing it as the “end of an era” and expressing a sense of imposter syndrome for not maximizing the NFT’s potential earlier.

Peruggia originally acquired CryptoPunk #7804 in March 2021 for 4,200 ETH, valued at $7.5 million during the purchase. Despite receiving offers of approximately $18 million in 2022, the NFT trader opted to retain ownership of the piece for over three years.

This transaction also secured the position of CryptoPunk #7804 as the second-largest sale within the CryptoPunks ecosystem before the occurrence of the two $16 million transactions this month.

Community members celebrated the sale, extending congratulations to the seller and acknowledging the significance of the NFT asset’s retention.

With CryptoPunks leading the charge, the weekly sales volume of the NFT collection surpassed that of other popular NFTs such as NodeMonkeys and Mad Lads. According to data from NFT tracker CryptoSlam, CryptoPunks achieved $21.5 million in sales within the last seven days.

The surge in high-profile NFT sales across various blockchain networks has contributed to a substantial increase in transaction volume, with NFTs collectively recording $1.5 billion in sales volume over the past 30 days.