Despite Ethereum (ETH) hitting its highest price in over two years, the cryptocurrency has faced a slight downturn in recent market activity. However, this dip hasn’t dampened enthusiasm in the NFT space, as one of the most valuable CryptoPunks ever sold for a staggering $16 million worth of ETH—proving that blue-chip NFTs still command attention.
A Historic CryptoPunks Sale
The record-breaking transaction involved Punk #7804, one of only nine ultra-rare Alien Punks from the legendary CryptoPunks collection. The NFT was purchased for 4,850 ETH, equivalent to $16.42 million at the time of sale, making it the second-largest CryptoPunks sale in history in both ETH and USD value.
This sale comes just weeks after another Alien Punk (#3100) was sold for 4,500 ETH ($16.03 million) on March 3, 2025. These back-to-back high-value transactions signal that, despite shifting market conditions, collectors remain willing to invest heavily in historically significant NFTs.
A Seller’s Regret, A Buyer’s Vision
The seller of Punk #7804, known as Peruggia, originally acquired the NFT in 2021 for 4,200 ETH ($7.57 million). While the recent sale generated a considerable profit, Peruggia took to Twitter (X) to express mixed emotions, stating:
“End of an era. I’ve long felt like an imposter, holding Punks, and potentially NFTs as a whole hostage by not elevating 7804 in the way he deserves.”
Despite this regret, Peruggia emphasized optimism, suggesting that the new owner—whose identity remains unknown—will have the vision to elevate the NFT’s cultural status.
The Ever-Evolving NFT Landscape
The sale of Punk #7804 now ranks as the fifth-most expensive NFT transaction of all time. The top spot still belongs to digital artist Beeple’s “Everydays: The First 5000 Days”, which sold for $69.3 million at Christie’s in 2021, marking the beginning of mainstream NFT adoption.
CryptoPunks, created in 2017 by Larva Labs, were among the first-ever NFTs to gain widespread recognition. Their success paved the way for profile picture (PFP) NFTs, later expanded upon by projects like the Bored Ape Yacht Club (BAYC). In 2022, Yuga Labs (the creators of BAYC) acquired CryptoPunks’ intellectual property, further solidifying its influence in the NFT space.
CryptoPunks: Still a Blue-Chip NFT Collection
Despite the NFT market experiencing fluctuations in hype and value, CryptoPunks remain a blue-chip asset. The collection has amassed nearly $2.8 billion in secondary sales since its inception, and even its most affordable NFTs still command six-figure price tags—with the cheapest listed at 51 ETH ($177,000).
While the NFT market as a whole has evolved, high-value sales like these prove that historically significant digital assets still hold weight among collectors. As Ethereum and the broader crypto landscape continue to fluctuate, the next chapter for CryptoPunks—and NFTs in general—remains unwritten.
