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