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Auction house giant Sotheby’s are auctioning 104 CryptoPunks NFTs in a sale titled ‘Punk It!’. The NFTs, which make up around 1% of the illustrious 10,000 piece collection, are owned by a single collector who acquired them back in July 2021.
As part of Sotheby’s Metaverse NFT sales series, the ‘Punk It!’ sale will take place between February 18th and 23rd, and will feature other live events including a VIP dinner and a party with a live DJ. If Sotheby’s abide by their previous auction polices, those interested in pieces from the impressive NFT lot will be able to make bids via cash or crypto.
If all 104 CryptoPunks are successfully sold, an amount of $20-30 million is expected to be generated, which in the wacky context of NFTs, is a reasonable amount given the collection’s stature as the original profile picture NFT series.
In an auction in June 2021, Sotheyby’s previously sold a singular CryptoPunk for a whopping $11.75 million. Their main competitor, Christie’s Auction House, have also made some noteworthy CryptoPunk sales in the past, including a $17 million sale for a collection of nine Punks back in May 2021, and a $12 million sale for a collection of 14 Punks later in September.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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