CryptoPunks Character Sold for $12.000

While the average CryptoPunks collectible sells for 138 dollars, a beanie-wearing zombie character sold for a staggering amount of 12 thousand dollars. The sale took place on Saturday and is one of the biggest sales for Cryptopunks ever. The pixelated collectibles have been responsible for over 2205 ETH, or 474 thousand dollars, in peer-to-peer trading volume, as monitored by OpenSea.

CryptoPunks is an art initiative that generated ten thousand different 24x24 punk-looking avatars. There are a few rares ones, like apes, zombies and an alien. The punk that sold for more than 12 thousand dollars, was a one of 88 zombie punk. He is also wearing a beanie, which is something only 44 other characters can say as well. Outside from being a collectible, CryptoPunks doesn't offer any additional usage.

Even though there's a clear lack of utility, CryptoPunks are still assets in very high demand. The project is entirely on-chain, which means nobody can alter the code. In addition this also means that there will never be more than the 10 thousand computer-generated characters. As a result scarcity and demand are the main aspects for driving up the value.

2020 year of digital collectibles

Even though 2020 is a year with one catastrophe after the other, it's actually been an interesting year for non-fungible tokens. Digital assets that have their scarcity and user-ownership confirmed through blockchain technology have seen an incredible growth over the year.

Game company Capcom and television station Cartoon Network will launch licensed digital collectibles. Socios and Sorare are signing deals with many European football clubs. This way they connect the most popular worldwide sports with the blockchain space. At the same time companies that have been traditionally involved in physical collectibles, have been embracing the digital space as well. Most recently Topps launched a series of digital cards for their Garbage Pail Kids franchise.