Cryptocurrency News

Complete Lot Of CryptoPunks Collectibles Purchased By Unknown Whale For $1Mln.

A batch of digital collectibles referred to as CryptoPunks just sold for over $1 Mln in cryptocurrencies in solely a few minutes.

In line with the Larva Labs marketplace, 34 Punks were purchased Sunday by an anonymous investor, who purchased the lot for 557.5 Ethereum [ETH, -5.75%].

The sale comes as a non-fungible token [NFT]-based art is seeing soaring interest, with top firm Christie’s even getting into the action.

NFTs are cryptocurrency tokens that tend different attributes to represent variable assets or artwork characteristics, as are often seen in CryptoPunks like Mohawk Thin & Frumpy Hair.

Complete Lot Of CryptoPunks Collectibles Purchased By Unknown Whale For $1Mln.

Larva Labs, the firm behind the Punk collectibles, says 10k unique characters were originally created to be claimed for free of charge by anyone with an Ethereum wallet.

CryptoPunks are created on the Ethereum blockchain using the ERC-721 protocol. They’re embedded into a smart contract as the actual images were overlarge to store on-chain at their inception, consistent with Larva Labs’ official website.

Shortly after their release, all 10k CryptoPunks were snapped up and have since been trading on Larva’s marketplace, where an anonymous whale made their recent $1 Mln purchase.

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