While the Bored Apes bask in the limelight, it’s still the old guard that rules the NFT space. Recently, an early XCOPY artwork minted way back in 2018 sold for a whopping 1,630 ETH. That’s over $6 million at today’s prices.
The item in question, is XCOPY’s “All Time High in the City.” A stark and foreboding depiction of Death, the ferryman, as he transports a beleaguered trader to the hell where he clearly belongs. All the while, the image flickers menacingly through shades of deep red and black.
“All Time High in the City” arrived on the blockchain on November 16, 2018. Then changed hands for the first time a full year later for 10 ETH, $1,436 as of December 2019. There it remained until as recently as last September when it was snapped up for 1,000 ETH, $3 million. And now, at the turn of the year, that value has skyrocketed to $6 million. All for a single artwork featuring none of the community, or utility promised by its PFP counterparts. Purely for the value held in the artwork itself. Amazing.
CryptoArt piece sold for 1,000 ETH a while ago. Not a rare collectible or a utility NFT.
Now, it sold for 1,630 ETH.
Collectibles $ -> 1/1s $ https://t.co/2521lQ5Al7
— Loopify 🧙♂️ (@Loopifyyy) January 2, 2022
When it comes to NFTs it seems there is no substitute for heritage. Recently, a large deal was made of the “flippening,” the moment where the Apes floor price (briefly) surpassed that of the CryptoPunks. But, take a look at the other end of the spectrum, and it’s clear that the highest Punk sales figures dwarf those of their simian rivals.
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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.
Decentralised human, Explorer, Adventurer.