Sotheby’s launches first live auction of 104 cryptopunks

  • NEW YORK, February 8, 2022 – Sotheby’s announces the first live evening auction dedicated to NFTs, Punk It!.
  • A single-lot sale of 104 CryptoPunks on February 23, building on the success of Sotheby’s original series of NFT sales in 2021, which to date has reached $100 million since its launch less than a year.

The sale, which carries a historic estimate of $20/30 million, is the highest estimate for an NFT or digital art ever sold at auction and follows Sotheby’s record sale of CryptoPunk #7523 for 11, $8 million in June 2021. The live Evening Auction will also bring the physical and digital worlds together in an unprecedented exhibition of NFTs and digital art, with presentation on par with NFTs and digital art auctions. most important and prominent digital art.

The “CryptoPunks”

CryptoPunks, created by Larva Labs in 2017, are among the most recognizable and valuable NFTs in the world, serving as a prominent visual representation of the global NFT movement. Their position in the crypto ecosystem, and more recently in the world of fine art, has become a visual identifying marker for their owners.

The current lot of 104 CryptoPunks to be auctioned was purchased in a single blockchain transaction by the anonymous collector “0x650d”. This standalone acquisition ties each of the 104 Punks to the same provenance – a portfolio that currently represents over 1% of the entire CryptoPunks collection – and gives the group unique value as one of the largest owned Punk collections. by a single portfolio. .

Sotheby’s will accept cryptocurrencies for the auction, with the winning bidder being able to pay in Ether (ETH), Bitcoin (BTC), USD Coin (USDC) or fiat currencies. All cryptocurrency transactions are subject to applicable rules and regulations. Following the paradigm shift in November when Banksy’s Trolley Hunters and Love Is In The Air (2006) were both offered with real-time cryptocurrency auctions, Sotheby’s auctioneer for the sale will also announce bids live from New York’s Ether (ETH) cryptocurrency auction house alongside US dollars.

About Sotheby’s

Sotheby’s, founded in 1744, is the world’s premier art and luxury destination. Through auctions and buy-it-now channels such as private sales, e-commerce and retail, Sotheby’s supports access, craftsmanship and preservation of fine art and rare objects.

Our reputable global marketplace is backed by a state-of-the-art technology platform and network of specialists spanning 40 countries and 50 categories, including contemporary art, modern and impressionist art, old masters, fine art Chinese, jewelry, watches, wines and spirits, and Interiors, among others.

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Steve Anderson
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