Who says the NFT bubble has popped?
A non-fungible token (NFT) of a digital artwork called a CryptoPunk defied expectations and just sold for $11.8 million at Sotheby’s on Thursday.
“CryptoPunks are a set of 10,000 pixel-art characters made by Larva Labs in 2017” and the mega bucks one that sold— CryptoPunk #7523 — is “of the sought-after Alien variety with blue-green skin, and wearing a medical mask,” according to Reuters. It was bought with bitcoin and no physical artwork changes hands.
Sotheby’s announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings.
“We are excited to continue to explore new and interesting ways in presenting these cutting-edge works,” Michael Bouhanna, a contemporary art specialist at Sotheby’s, told Reuters.
This week the famous “Doge” NFT also sold at another auction for $4 million.