A new record in the making – Sotheby’s to auction 104 CryptoPunk NFTs for a whopping estimate of $20-30 million.

NFT sales are not uncommon for Sotheby’s. However, in taking it a step up, the auction house is now set to announce a first dedicated live evening auction for NFTs, Punk It!, a single-lot sale of 104 CryptoPunks. Yes, that’s right!

The cool ensemble of 104 CryptoPunks was apparently acquired last July in a single blockchain transaction by anonymous collector “0x650d”. The same has also been confirmed by the Ethereum blockchain analytics site Etherscan.

For those unaware, CryptoPunks denote a collection of 10,000 NFTs released in 2017 by Larva Labs that include digitized portraits of punk rock-looking faces. Each of them differs from the other in terms of their accessories or looks, such as blue bandanas, cigarettes, or mohawks.

Commenting on the NFTs, Michael Bouhanna, Sotheby’s co-head of digital art in a statement said, “CryptoPunks are the original PFP series that created the template for other NFT projects that have followed, and which helped propel NFTs to the global stage as one of the most recognizable visual styles that have become synonymous with the digital art movement.”

He further added, “To offer a group of 104 CryptoPunks as a single lot is a monumental occasion and one that we are excited to present as a first-of-its-kind evening auction. Never before has there been a dedicated auction presenting NFTs on this level, and we can’t wait to invite the NFT and crypto art community to participate in this special sale.”

For the live evening auction being held on February 23, Sotheby’s will accept cryptocurrency, including Ether (ETH), Bitcoin (BTC), USD Coin (USDC), or fiat currencies. The lot is expected to fetch anywhere around $20 – 30 million and post its sale; participants will be welcome to join a special live panel discussion on the history of NFTs and CryptoPunks as well.

Excited for this NFT extravaganza?

[Via: ARTnews]

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