A rare CryptoPunk sold on Thursday at Sotheby’s for over $ 11.7 million.
Called “Covid Alien”, CryptoPunk 7523 is considered a rare NFT, or non-fungible token, collectible. It is one of nine “foreign punks” in the entire series and is the only one with a mask.
The buyer, Sotheby’s tells CNBC Make It, is Shalom Meckenzie, the largest shareholder in DraftKings. Meckenzie has a net worth of $ 1
The 7-digit sale set “a new world auction record for a single CryptoPunk,” according to Sotheby’s.
CryptoPunks is a selection of 24×24 pixelated avatars. There are a total of 10,000, and no two are exactly alike. Each has its own unique features and accessories.
The CryptoPunks project became known as one of the earliest NFTs, and was launched in 2017 by Larva Labs founders Matt Hall and John Watkinson. Originally, each CryptoPunk was offered for free, but many have recently sold for millions of dollars.
Two other “foreign punks” recently sold for more than $ 7.5 million each, according to CryptoSlam, and seven other CryptoPunks sold for over $ 1 million. In May, a collection of nine CryptoPunks sold for nearly $ 17 million at Christie’s.
“CryptoPunks has become one of the most sought after NFTs on the market,” Michael Bouhanna, a contemporary art specialist at Sotheby’s, told CNBC Make It earlier.
Prior to the sale, an NFT collector known under the pseudonym Sillytuna owned CryptoPunk 7523.
The last public sale of CryptoPunk 7523 was in 2017 for 8 ether, which was then worth $ 1,646. However, Sillytuna has reportedly received NFT recently for an undisclosed amount – it is not registered publicly, as typical sales are because it was made as a OTC, or over-the-counter, trading, Sillytuna told the Cointelegraph.
Although Sillytuna is now a little richer today, the NFT collector does not plan to keep all the profits, and will donate 10% of the sales revenue, according to a press release from Sotheby’s. Of the 10%, 5% will be donated to Larva Labs to support the development of several NFT projects, and the other 5% will be donated to Covid-19 aid organizations.
In addition, Sillytuna bought the “first” NFT created by Kevin McCoy, which Sillytuna wrote on Twitter, which was auctioned off with CryptoPunk 7523. Sotheby’s says that the winning bid on McCoy’s NFT is $ 1.47 million.
“So happy to own the first NFT ever, Quantum,” Sillytuna tweeted Friday. “A piece of history. Let’s see how we can continue the story.”
Register now: Get smarter about your money and career with our weekly newsletter
Do not miss: Americans earned over $ 4 billion from bitcoin in 2020 – more than three times as much as any other country