Sotheby’s set a world record for auctioning off CryptoPunk 7523 aka “Covid Alien” for $11.75M. The sale was part of Sotheby’s landmark digital media auction Natively Digital: A Curated NFT Sale.
Meet CryptoPunk 7523 aka “Covid Alien”
As expected, CryptoPunk 7523 or Covid Alien was the main draw at Sotheby’s Auction. Natively Digital: A Curated NFT Sale marks the first time a traditional auction house only showcased pieces from NFT Artists. The collection included 27 commissioned and existing NFTs from a variety of digital artists.
There’s a finite supply of 10,000 CryptoPunks in the NFT World. CryptoPunk 7523 stands out because of its rare cosmetics. It is one of just nine Alien CryptoPunks and the only one wearing a mask alluding to the global pandemic. As such, it is considered one of the rarest of the “punk type” set. Therefore, we can conclude that the scarcity and the cosmetics pushed the value of CryptoPunk 7523 or Covid Alien.
Each of the 10,000 punks has 0 – 8 distinctive characteristics making the combinations highly attractive to collectors. Hence, each punk differs from the next in terms of identities, attributes and rarities. Looking at the complete picture of the remaining 991 Punks, 24 are apes, 88 are zombies, 3840 are female and 6,039 are male.
Birth of a mighty combination
The participation of traditional auction houses like Sotheby’s and Christie’s gave NFTs a stamp of legitimacy and an extra push towards wider acceptance. The partnership was born out of necessity because of the pandemic. All things considered, the pace and level of integration between traditional institutions and NFTs are astonishing. We can definitely expect more action from OGs like CryptoPunks!