NFT Market Booms: CryptoPunk and BAYC NFTs Fetch Over $1M Each

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Record breaking month for NFTs: A CryptoPunk and BAYC sell for more than $1M each, further boosting Web3 market growth

The non-fungible token (NFT) market continues its upward trajectory. Following recent data stating that NFT sales surged to $945M last month, some NFTs are selling for six figures alone. One being CryptoPunk #5066, which sold for a whopping 857 ETH (approximately $1.4M). The other is Bored Ape Yacht Club (BAYC) #7090, which was acquired for 800 ETH (around $1.3M), the following day.

Quick Take: 

  • NFT Whale, Kevin Rose — the co-founder of Moonbirds‘ Proof Collective — was the original owner of CryptoPunk #5066.
  • This week, an anonymous buyer acquired Rose’s Punk for 857 ETH.
  • BAYC also scored an impressive sale straight afterward, selling Bored Ape Yacht Club #7090 for 800 ETH.
  • The buyer of the BAYC NFT is the Founder of BAYC’s Kingship, Jimmy McNelis.
Some CryptoPunks currently for sale on OpenSea

The Groundbreaking Sale of CryptoPunk #5066

Kevin Rose, Co-Founder of Moonbirds’ Proof Collective, was the original owner of CryptoPunk #5066. However, a buyer — whose name remains unknown but has the wallet address “bitshamed.eth” — purchased the OG digital asset from Rose for an astonishing 857 ETH (approximately $1.4M) at the beginning of the week.

“CryptoPunks Bot” took to Twitter to share the news about this recent purchase:

Rose sold the digital asset to rebalance his portfolio after a devastating phishing attack. Although it was a tricky decision, the attack cost him 40 valuable NFTs worth more than $1M in total.

While it’s a shame that he had to make the sale to rebalance his portfolio after falling victim, the sale of CryptoPunk #5066, means he can now expand his collection. Evidently, he aims to acquire Art Block Squiggles NFTs following losing 25 pieces in the recent hack.

Again, these pricey sales show that the NFT market is back on track, and demand for these collectible assets remain high.

Must Read: Top 5 Most Expensive CryptoPunk NFTs and Reasons Why

Examples of BAYC’s for sale on OpenSea

The Historic Purchase of BAYC #7090

One day after after the notable CryptoPunk sale, BAYC #7090 — the 62nd rarest NFT of its kind — was acquired for a staggering 800 ETH (around $1.3M).

Web3 creator and NFT whale, Jimmy McNelis, made the happy transaction. As a result, BAYC #7090 is now held close against other collection members, alongside Meebits and CryptoPunks collectibles.

McNelis is best known for being the brain behind BAYC’s Kingship project — using his four BAYCs to create the NFT avatar band — and is also credited for creating the early “Avastars” NFTs back in 2020.

As the NFT market continues to mature, the story behind this BAYC #7090 sale among others is a friendly reminder of the potential of this innovative technology and the importance of ownership.

The future of NFTs is bright. As a result, we can expect other groundbreaking purchases of such digital assets to occur in the near future.

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