Sotheby's is going to auction 104 CryptoPunks worth at $20 to $30M

In a single-lot sale, all 104 CrypoPunks will be sold simultaneously.


The New York auction house Sotheby's announced Tuesday that 104 CryptoPunks will be auctioned on February 23. The NFTs are valued between $20 and $30 million.
Sotheby's

The New York auction house Sotheby's announced Tuesday that 104 CryptoPunks will be auctioned on February 23. The NFTs are valued between $20 and $30 million.


Because of the sale's concentration on CryptoPunks, Michael Bouhanna, Sotheby's co-head of digital art, called it a "first-of-its-kind" and "monumental."


In a statement, Bouhanna said,


"CryptoPunks are the original PFP series that laid the groundwork for subsequent NFT projects and helped launch NFTs to the global stage as one of the most identifiable visual styles that has become synonymous with the digital art movement."

The anonymous collector "0x650d" purchased the group of CryptoPunks that would be auctioned together in a single transaction.


According to crypto data provider NFT Price Floor, CryptoPunks, which were created in 2017 by studio Larva Labs, have a floor price of $210,374 per.


Sotheby's will accept cryptocurrencies such as bitcoin and ether, as well as fiat currency, for the evening auction. In a single-lot sale, all 104 CrypoPunks will be sold simultaneously.


This isn't the first time Sotheby's has dabbled in blockchain-based digital treasures.


Sotheby's launched the Sotheby's Metaverse non-fungible token (NFT) marketplace in October 2021, making it the first auction house to do so. In June 2021, Sotheby's sold CryptoPunk #7523 for $11.8 million.


In an annual report, the auction house referred to its performance in 2021 as "the strongest total in [the] company's 277-year existence," thanks in part to $100 million in NFT sales.