Sotheby’s is launching first live auction of 104 cryptopunks

• NEW YORK, Feb. 8, 2022 — Sotheby’s announces the first dedicated live evening auction for NFTs, Punk It!.

• A single-lot sale of 104 CryptoPunks on 23 February, building on the success of Sotheby’s original series of NFT sales in 2021, which to date have achieved $100 million since commencing less than a year ago.

The sale, which carries a historic estimate of $20/30 million, is the highest-priced estimate for an NFT or digital art ever sold at auction and follows Sotheby’s record-breaking 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 a presentation on par with the most prominent and high-profile NFTs and digital art auctions.

The “CryptoPunks”

CryptoPunks, created by Larva Labs in 2017, are some of the world’s most recognizable and valuable NFTs, serving as a prominent visual representation of the global NFT movement. Their standing in the crypto ecosystem, and more lately in the fine art world, has evolved into a visual identification marker for their owners.

The current batch of 104 CryptoPunks to be auctioned were purchased in a single blockchain transaction by anonymous collector “0x650d.” This stand-alone acquisition ties each of the 104 Punks with the same provenance—a wallet that currently represents more than 1% of the whole CryptoPunks collection—and gives the group a unique value as one of the largest Punk collections owned by a single wallet.

Sotheby’s will accept cryptocurrencies for the auction, with the winning bidder 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-shifting move in November when Banksy’s Trolley Hunters and Love Is In The Air (2006) were both offered with real-time cryptocurrency bidding, the Sotheby’s auctioneer for the sale will also announce bids live from the New York saleroom in Ether (ETH) cryptocurrency alongside US dollars.

About Sotheby’s

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

Our reputable global marketplace is backed by an industry-leading technology platform and a network of specialists spanning 40 countries and 50 categories, including Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Interiors, among others.

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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