This year, non-fungible tokens took the art world by storm. NFT is a unit of data stored on a digital ledger, called a blockchain.
More so, this blockchain certifies a digital asset to be unique and therefore not interchangeable. The digital asset can be online pictures and videos or even sports trading cards.
CryptoPunk number 8348 is put on auction for 60,000 ETH worth $171 million.
According to NFT, CryptoPunk #8348 is seen as the rarest of the 10,000 punks due to being the only one with 7 traits. In addition, the firm said that if this punk sells at this price, it would become the highest NFT sale ever, breaking Beeples record of $69M in March.
In March, South Carolina-based graphic designer Mike Winkelmann aka Beeple sold an NFT for a record $69 million at a Christie’s auction. Also, the CEO of Twitter, Jack Dorsey, sold his first tweet as an NFT for $2.9 million later that month.
Recently, a rare CryptoPunk was sold at Sotheby’s for over $11.7 million on Thursday. What is more, the total NFT sales reached a whopping amount of $2 billion in the first quarter, according to data from Nonfungible, a website that tracks the market.