Rare CryptoPunk #7804 Sells for Record $16.4M in Ether

CryptoPunks, the blue-chip NFT collection, saw another historic sale as CryptoPunk #7804 was sold for 4,850 ETH, approximately $16.4 million. This sale marks the second-largest CryptoPunk NFT sale to date, following another high-profile sale earlier in March.

Second-Highest Selling Price

The sale of CryptoPunk #7804 on March 20 set a new record as the second-highest selling price for a CryptoPunk. This comes after CryptoPunk #3100 was sold for 4,500 ETH, around $16 million, on March 4, making it the third-largest CryptoPunk sale.

Rarity of Attributes

CryptoPunk #7804 is one of the 10,000 NFTs in the collection but stands out due to its rarity. The character in the NFT features a cap forward, a pipe, and small shades, attributes shared by a limited number of CryptoPunks. However, what makes it even rarer is that it is one of only nine alien CryptoPunks.

Seller's Perspective

Peruggia, the seller of the NFT, expressed mixed feelings about the sale. They described it as the "end of an era" and expressed regret for not maximizing the NFT's value earlier. Peruggia had purchased the CryptoPunk in March 2021 for 4,200 ETH, valued at $7.5 million at the time, and held onto it despite receiving offers around $18 million in 2022.

End of an era. I've long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.

After over a year of looking around I feel I've found the right buyer with the right vision to appropriately elevate this asset https://t.co/onngtTumrJ
— Peruggia (@peruggia_v) March 20, 2024

Community Reaction

The sale of CryptoPunk #7804 garnered praise from the NFT community, with many congratulating the seller for the successful transaction and appreciating their decision to hold onto the asset.

Record Sales Volume

The sale of CryptoPunk #7804 contributed to CryptoPunks surpassing other popular NFT collections like NodeMonkeys and Mad Lads in weekly sales volume. According to NFT data tracker CryptoSlam, CryptoPunks recorded $21.5 million in sales in the last seven days, reflecting the growing transaction volume in the NFT space.