Rare NFT collection fetches millions at Christie’s auction

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A rare collection of nine non-fungible tokens (NFTs) known as CryptoPunks have been sold by Christie’s for around US$17mln in another sign that the new breed of digital collectable is continuing to attract wads of cash from buyers.

#AuctionUpdate 9 rare CryptoPunks from Larva Labs’ own collection makes history realizing $16,962,500 pic.twitter.com/qsPs5nqVYY

— Christie’s (@ChristiesInc) May 12, 2021

Overnight, the UK auction house tweeted that the NFT collection from digital art firm Larva Labs had fetched the massive sum as part of a ‘21st Century Evening Sale’.

READ: NFTbay: eBay opens platform to NFT sales

The nine CryptoPunks among the first 1,000 created by Larva Labs. The blockbuster sale also follows a similar dramatic moment from March, when Christie’s auctioned off an NFT representing a digital work from artist Beeple for US$69mln.

NFTs are tokens that represent artwork or other assets digitally and are used to validate ownership of an asset through blockchain technology.

While initially confined to the crypto sector, NFTs have recently started to attract mainstream attention, with eBay Inc (NASDAQ:EBAY) recently saying it will allow people to sell NFTs on its online shopping platform, becoming the first e-commerce firm to do so.

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