Sotheby's to Auction 104 CryptoPunks in Single Lot, Estimated $20-30 Million

Sotheby's New York is set to auction a single lot of 104 CryptoPunks on February 23, 2022, with an estimate of $20-30 million, the highest ever for an NFT. The collection, from an anonymous collector, shares a single provenance. The auction, titled 'Punk It!', will be preceded by a roundtable featuring Jay-Z and Jason Derulo, streamed live. The lot will be on view at Sotheby's New York from February 18-23, and also in Decentraland, a virtual reality platform on Ethereum. CryptoPunks, created by Larva Labs in 2017, are 10,000 algorithmically generated 24x24 pixel avatars. A previous record was set in 2021 when CryptoPunk 7523 sold for $11.754 million at Sotheby's. The auction accepts cryptocurrency payments.