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An image of a crypto punk sells for $23 million worth of Ether as NFT craze continues


February 13, 2022 · By MATheGooner
Ethereum (ETH)

Deepak Thapliyal set a new Cryptopunks record on Saturday, February 12, 2022, when he bought Cryptopunk #5822 for 8,000 ETH, which is worth $23.3 million at today’s ether exchange rates.

A picture of a punk for more than half a million dollars may appear to be too good to be true. One shabby image from the NFT initiative CryptoPunk, on the other hand, sold for exactly that today. 

The Cryptopunks non-fungible token (NFT) collection set a new high on Saturday when the NFT Cryptopunk #5822 sold for 8,000 ether ($23 million).

👽 pic.twitter.com/lQg6DzSttr

— Deepak.eth ⛓ (@dt_chain) February 12, 2022

Deepak Thapliyal, the new owner of the NFT and the CEO of a blockchain business named Chain, explained that he acquired the NFT using leverage via Compound Finance. 

CryptoPunks is one of the space’s oldest NFT collections. The collection was created in 2017, when there was little to no interest in the field, but it is now regarded as one of the most valuable works in the non-fungible token field. 

There are a total of 10,000 Cryptopunk NFTs (3,840 female and 6,039 male versions), each with its own set of characteristics. Since June 2017, Cryptopunks has seen a total sales volume of $2.57 billion from 5,927 traders.

The current floor price, which is the cheapest Cryptopunks NFT you can get right now, is roughly $209K or 71.52 ether. Cryptopunk #5822 is projected to be worth $9.93 million, or 3,397.89 ethereum, according to Dappradar.com data. 

Thanks to NFTs, which use blockchain technology to create an authoritative copy of digital property, artists, singers, influencers, and sports teams can profit from digital goods that would otherwise be cheap or free. 

Owners of digital art, collectibles, and a variety of other things can use them to monitor ownership, and they’re becoming more popular as blockchain technology takes off.

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