The punk craze looked like it might be over when sales of CryptoPunks briefly dropped earlier this week. Not so fast.
Today, a single CryptoPunks zombie sold for $3.9 million to Pranksy, a prominent NFT collector.
This is the eighth highest sale for a CryptoPunk.Larva Labs’ highest sale record was set on March 11 when a Punk sold for 4.2k ETH, worth $7.58 million at the time. The most expensive sold for $11.8 million, but outside of the Larva Labs ecosystem.
The zombie sold today is one of 88 zombie punks out of 10,000 incarnations of the project. This avatar is one of 526 with a “shadow beard”; only 428 others have the same black Mohican head.
According to CryptoSlam, the sale amounted to just under a third of CryptoPunk’s daily trading volume, and was one of only 14 bought today. Since then, only one CryptoPunk has sold: a male wearing small sunglasses and a hat for $371,495.
However, sales of Punk are declining. It’s unclear if this is because people are holding onto their CryptoPunks (which later became a way to show off your wealth on social networking sites like Twitter), or if they’re getting tired of the avatars.
Sales rose from $14 million on Aug. 22 to $134 million on Aug. 23, then fell back to $47 million on Aug. 25. A second peak occurred on August 28, when volume increased to $195 million, the highest ever. Since then, sales have sunk to about $22 million a day, except for a spike to $40 million on Sept. 1.
People are turning to trading other different NFT programs. In the past week, Mutant Ape Yacht Club, a breeding project from The Bored Ape Yacht Club, has generated $220 million.Loot, a series of randomly generated text images, has spawned $173 million in transactions.
CryptoPunks, once the most popular item on the block, has dropped to fifth place on CryptoSlam’s weekly sales chart.