Later this month, Sotheby’s will dedicate an auction exclusively to the rise of CryptoPunks. The auction house had rousing success off the burgeoning NFTs, amassing over $100m USD in total sales last year, including Sotheby’s record-breaking sale of CryptoPunk #7523 for $11.8 million in June 2021.
“Punk It!” will feature a single-lot sale of 104 CryptoPunk NFTs on February 23 and is expected to bring in roughly $20-30m USD — the highest valued estimate for an NFT or digital art ever offered at auction. “CryptoPunks are the original PFP series that created the template for other NFT projects that have followed, and which helped propel NFTs to the global stage as one of the most recognizable visual styles that have become synonymous with the digital art movement,” said Michael Bouhanna, Sotheby’s Co-Head of Digital Art.
CryptoPunks get the Sotheby's treatment. Our next #SothebysMetaverse sale 'Punk It! 104 CryptoPunks. 1 Lot.' will be a landmark LIVE Evening Auction on February 23. A truly historic sale for an undeniably historic NFT project. pic.twitter.com/LAu6j8Atu3
— Sotheby's (@Sothebys) February 8, 2022
“To offer a group of 104 CryptoPunks as a single lot is a monumental occasion and one that we are excited to present as a first-of-its-kind evening auction. Never before has there been a dedicated auction presenting NFTs on this level, and we can’t wait to invite the NFT and crypto art community to participate in this special sale,” Bouhanna added. The 104 CryptoPunks were acquired in one purchase registered on the blockchain, making the collection unique in that each NFT holds the exact same provenance.
Peruse your Instagram or Twitter and you would have likely noticed a number of celebrities, who are donning their own — from Jay-Z and Steve Aoki, to Snoop Dogg and Odell Beckham Jr. “Punk It!” will commence at Sotheby’s New York on February 23 at 6pm EST.