104 NFTs to be sold at Sotheby's CryptoPunks auction
Sotheby's has continued to offer a lot of 104 CryptoPunks, a highly valuable non-fungible token. The auction house announced that it will auction CryptoPunks on Feb. 23 as part of one lot. An individual lot is expected to sell for USD 20-30 million.
The auction house tweeted, "CrytoPunks get the Sotheby’s treatment. Our next #SothebysMetaverse sale ‘Punk It! 104 CyrptoPunks. 1 Lot.’ Will be a landmark live evening auction on February 23. A truly historic sale for an undeniably historic NFT project.”
Following a live exhibition of the iconic NFTs scheduled to begin on 18 February and conclude on 23 February, the auction, "Punk It!" will be held at the live exhibition.
From 18 February through 23 February, a live exhibition of all six iconic NFTs will be followed by the auction, titled "Punk It!".
The auction house said all 104 CryptoPunks came from a single wallet. This makes the collection unique because it is one of the largest collections from a single wallet.
In addition to fiat currencies, Sotheby's has extended the facility for winning bidders to use cryptocurrencies, such as Ether, Bitcoin, and USD Coin.
In addition, Sotheby's will hold a live panel discussion before the auction, focusing on the history of NFTs and CryptoPunks, considering their immense popularity among celebrities.
CryptoPunk exhibition is set to take place at Sotheby's galleries in New York. The exhibit will also be held in virtual form at Sotheby's headquarters in Decentraland.
At the Sotheby's auction house in June 2021, CryptoPunk #7523 sold for USD 11.75 million, the highest price a CryptoPunk ever fetched.
What are CryptoPunks?
Developed by Larva Labs in 2017, CryptoPunks are pixelated portraits of punk rock cartoonish faces. There are 10,000 of them, each unique due to its own combination of attributes. CryptoPunks rank as one of the most well-known NFT collections and individual tokens of all time.
CBW - External Analyst