It’s official — the biggest non-fungible sale of the past week involves a renowned ‘CryptoPunk Whale’. NFT Collector Punk6259 managed to bag both the top and second spot in the weekly sales chart, compiled by the good folk at DappRadar, with a Chromie Squiggle NFT sale the most talked about.
Punk6259 paid $1.67million for the complete Chromie Squiggle series, and now owns one of each edition. Conservative estimates already put this collection at a value of around $3million — proof of a shrewd investment.
However, this purchase was only the second most valuable non-fungible of the week ending 19th September 2021. The same person was also behind the highest value sale — spending $1.9million on Bored Ape #8135.
It’s worth noting that despite being seen as pioneers in the world of generative art, Chromie Squiggles very rarely find their way into the DappRadar weekly sales chart. Hence so many people talking about this sale. Hardly a cheap few days for the investor, these new acquisitions join their existing non-fungible collection, thought to be worth $20million.
Who is NFT Collector Punk6259?
In short, nobody knows who NFT collector Punk6259 actually is. Their identity is a secret, but we do know they are considered a ‘whale’. The term applies to crypto investors who hold a large amount of something.
That could be a particular currency or editions in an NFT series. In this instance, the individual responsible for making headlines with the high-value Chromie Squiggle NFT sale is also known to hold a number of CryptoPunks. As such they are considered a ‘CryptoPunk Whale’, with five of the series in their collection, alongside 15 Meebits, RarePepe NFTs, eight MoonCats, and five CurioCards.
According to their own post on Twitter, the buyer is already eyeing up more Art Blocks, one of the leading generative art series. They also hold two Gen.Art membership NFTs. Costing a total of $67,000, these assets grant the right to buy items through the Gen.Art platform.
What Else is in the Latest NFT Weekly Sales Chart?
So we know that Bored Ape #8135 was the most expensive NFT sale of last week. That’s no surprise given what we already knew about the demand for that series. Meanwhile, the Chromie Squiggle purchase represents the most recent shock high-value buy and claims the second spot. But what about the rest of DappRadar’s charts?
Well, the full chart looks a little like this:
The chart certainly shows just how much people are still spending on both individual and sets of NFTs. Look at little closer, though, and there are also clear signs of just how volatile cryptocurrency markets have been. For example, 360 WETH was spent on both Autoglyph #378 and CryptoPunk #5827, but the fiat currency value for these — bought just days apart — differs by around $40,000.
This reiterates just how important it is to understand the market for both cryptocurrency and NFTs before jumping in and spending real money.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.