CryptoPunks NFTs Log Over $3M Sale After Spike in Trading Activity

The popular CryptoPunks non-fungible token (NFT) collection's sales spiked triple-digit in the last 24 hours.

Popular NFT collection CryptoPunks saw its sales surge triple-digit over the last 24 hours.

According to NFT data aggregator CryptoSlam, the project launched in 2017 and the inspiration of the ERC-721 standard displayed a 184% increase in its sales to $3.025 million heading to Wednesday noon (UTC). The last time the collection saw over $3 million in daily sales was on March 21.

The figures came with a 156% rise in Cryptopunks’ transactions across 23 wallets during the period. So far, there are 2,815 owners of the collection, with an average holding time of 76.33 days.

The item “CryptoPunk 7338” had the highest price during the period. The piece with a rarity score of 374 of 10,000 recently changed hands for 100 Ethereum (ETH) or $319,016.16 at a 4.3582 GWEI.

Meanwhile, the lowest transacted price in the group was “CryptoPunk 8619” at 40 ETH or $129,037.15. The collectible with a rarity of 8.275 of 10,000 had a fee of 8.5423 GWEI.

Yuga Labs Selling CryptoPunks NFT IP?

Coinciding with the surge in interest toward CryptoPunks NFTs today is a rumor circulating online about Yuga Lab’s possible sale of its intellectual property (IP) rights. The information stemmed from the post of the pseudonymous wale.moca on X.

The crypto personality said on social media that he is “confident enough” to share that the developer of the popular Bored Ape Yacht Club is selling its rights to the CryptoPunks IP. The advisor at Moca Network claimed to have heard the information from “several sources close to the matter.”

The identity of the potential buyer is still a mystery, but the pseudonymous whistleblower hinted, “It’s not a major Web2 brand.” The post also denied that it’s neither one of the NFT powerhouses, such as Pudgy Penguins, Azuki, and Doodles.

Yuga Labs acquired the CryptoPunks IP from Larva Labs in March 2022 for an undisclosed sum. The acquisition transferred the rights to the project to Yuga Labs in addition to the over 400 NFTs that Larva Labs previously produced.

Yuga Labs plans to include stipulations in the sale that would compel the buyer to “leave the IP untouched.” Last year, the company came under fire for its alleged infusion of a “woke” agenda into CryptoPunks, which supposedly led to the abandonment of its support for the project.