06/03/2024 Rare CryptoPunk NFT sells for US$16 mln, signaling market revival

  • NFT displayed on a smartphone

    Image: Envato Elements

CryptoPunk #3100, one of the rare “Alien Punks,” has been sold for 4,500 ETH, worth approximately US$16.5 million, marking the second-largest transaction for a CryptoPunk in both U.S. dollar and ether terms.

The sale, which took place on March 4, surpassed the previous offer of 4,250 ETH made on March 1.

The CryptoPunks collection, originally minted in 2017 by Larva Labs and later acquired by Yuga Labs, is one of the most popular NFT collections today. CryptoPunk #3100 was initially purchased for over US$2,000 in 2017.

The NFT sector is showing signs of resilience and recovery, despite experiencing a downturn in 2022.

Institutions are also taking an interest, with platforms like SegMint introducing secure NFT custody solutions. The market’s revival is further evidenced by the increased attention to Bitcoin NFTs, which have surpassed Ethereum in weekly sales volume due to protocols like Ordinals that allow embedding files into Bitcoin’s smallest units, satoshis.

The Bitcoin blockchain had over US$182 million in NFT sales over the past seven days while Ethereum logged just over US$180 million, according toCryptoSlam data.

Arts

https://forkast.news/rare-cryptopunk-nft-sells-for-us16-mln-signaling-market-revival/amp/

Interesting NFTs
The classical poet Ono no Komachi, one of the Six Immortal Poets
Katsushika Hokusai (1760-1849) The classical poet Ono no Komachi, one of the Six Immortal Poets 1800s-1810s - Japan
THE HEALER
"Many things happened last year that make me feel so exhausted. I hope this Ox year will let me rest a bit more and heal me up." Illustration for "Dear Year of Ox, Please BE KIND." The project that I had a collaboration with the eID team. This project lets artists from different countries and regions express their wishes and hopes for the year of ox with their works, and sent a positive message to the world.
ˈSÄ-V(Ə-)RƏN-TĒ
"I'm not smart enough to be an astronaut." That is what 7 year old Rayden told Micah the first time they met. How can a 7-year-old already feel limitations on his dreams? For centuries, the black community has been the target of a system designed to limit their power, their earning potential, their dreams. Now is your opportunity to help destroy the system. For the next 11 years, on each brother's birthday, (Rayden, Aug. 10/ Jacque Nov. 6), you the viewer, will be able to directly contribute Bitcoin to a wallet that will be given to each child upon turning 18. In what is one of the most powerful use cases for Bitcoin, 100% of your contributions and earnings will open all new doors for these special young men.
Genesis
JosĂ© Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
Iconic Crypto Queen
(Virtual) blondes have more fun, right? #iconic ICONIC (Adj.): of, relating to, or having the characteristics of an icon. Widely recognized and well-established.