Christie’s has always been at the center of NFT discussions because of its pivotal role in the industry’s growth. However, this time, instead of a high-profile sale, Crypto Twitter is talking about the 225-year old British auction house because of its tweet about CryptoSkulls. Particularly why they mysteriously deleted it.
According to Business Insider, Christie’s sold $150 million worth of NFTs in 2021. This figure includes the record-breaking sale of Beeple’s digital art for $69 Million, making it the most expensive NFT. They credit the “new format” in contributing to $7.1 billion in total sales. So NFT collectors and enthusiasts value their take on projects. Hence, their recent move about CrypoSkulls is attracting plenty of questions.
The Narrative: Christie’s Tweet About CryptoSkulls
At the center of this story is Christie’s tweet, which reads: “Aging like fine wine. Vintage NFTs are now a thing.” It comes with an article boldly speculating that “CryptoSkulls will be the new CryptoPunks.”
CryptoSkulls launched in 2019 but has now gone viral thanks to investor and celebrity entrepreneur Gary Vaynerchuk. He purchased a CryptoSkulls NFT for 100 ETH. Since then, the collection of 10,000 pixelated skulls PFP NFTs has been rounding up massive numbers in the past few days. Total tradeable volume on OpenSea shot up to 17,000 Ether or $38 Million, with floor price impressively pegged at 1.499 Ether or $3300.
So what exactly is the allure of CryptoSkulls NFTs? The project is one of the first 10,000 NFT projects to launch on Ethereum. Thus, it is a potential goldmine in the eyes of some NFT enthusiasts and collectors. After all, factors like historical significance and scarcity drive the value of NFTs. In the NFT market, history is equal to price appreciation. With new projects launching left and right, older projects are creating more value as collectible items.
The leading theory from the grapevine is that the tweet about CryptoSkulls was deleted because somebody influential at Christie’s is into CryptoPunks. Thus, the additional media exposure and endorsement can affect the marketability of Punks. As it is, two major investors sold their CryptoPunks for Cryptoskulls, and more are considering it.
Reacting to the issue, the CryptoSkulls team tweeted, “What do you think about it, Skulls?” Some Skulls NFT holders disagree with this move. @barsinbits said, “I love the Skulls, but calling out Christie’s in public about a post they deleted, isn’t exactly enticing them to talk about us in the future. Surely this could be a conversation with them in DM.”
He added that the tweet in the first place was a good one. However, he equates calling out Christie’s to burning bridges. With the auction house’s status in the NFT space, antagonizing them is certainly not a good move. The auction house is a major player in the industry and can propel projects “to the moon.” In May, it auctioned a set of nine CryptoPunk NFTs for almost $17 million, outstripping its expectations to sell them for between $7 million and $9 million.
— CryptoSkulls 💀 (@Crypto_Skulls) January 22, 2022