Sotheby’s set to auction 104 CryptoPunks in first live NFT event

The single-lot auction could fetch up to $20 million based on the current $200k minimum price of a CryptoPunk NFT

Leading auction house Sotheby’s is set to auction 104 CryptoPunk NFTs in a single lot during its inaugural live evening for NFTs.

Taking place on February 23 in New York, the dedicated live evening auction will feature a single-lot sale of 104 CryptoPunks and will combine the “physical and digital in an unprecedented showcase for NFTs and digital art” via a ‘VIP Punk dinner’ and an appearance from a DJ named ‘Seedphrase’.

The 104-strong collection of CryptoPunks, dubbed ‘Punk It!‘ by Sotheby’s, was acquired through a partnership with Punks collector ‘0x650d‘ – the current owner of the Punks.

The format of the auction now gives Sotheby’s a chance to “showcase CryptoPunks on the same level as some of the most significant and high-profile sales of Contemporary and Modern Art in history” according to the collector.

Following the unveiling of the auction, buyers flocked to snap up Punks from secondary markets, including one collector – founder of DeFi platform Compound, Robert Leshner – who splashed out $7.7m on an ‘ape’ Punk.

The auction is the latest from Sotheby’s ‘metaverse‘ offerings, which includes digital art and collectables such as NFTs. The first ‘metaverse‘ auction saw a Bored Ape Yacht Club NFT sell for $3.4m alongside a ‘RAREPEPENFT also sell for an extraordinary $3.6m.

Sotheby’s has also hosted other NFT-related sales, including the auction for a collection of 101 BAYC NFTs in September and an auction for two iconic Banksy pieces that were sold in Ethereum.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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