CryptoPunk NFT sold for $4.4M despite a declining market

The NFT market has plunged 98% low since January. Nonetheless, the NFT community seems to be thriving and adopting more than ever as CryptoPunk #2924 was sold for 3300 ETH, around $4.45M.

The new owner of CryptoPunk #2924 is 9045DE and the NFT was sold by DANNYSECURE on the OpenSea marketplace.

CryptoPunk #2924 is one of the rarest NFTs from the 10,000 collection. The collection was sold for 150 ETH in November but the recent sale has made it climb the top largest NFT sale in the world.

This shows that the demand for PFP NFTs like CryptoPunks hasn’t died out. Although blue-chip NFTs weren't very popular a few months ago, NFT collectors are still holding on to these NFT collections.

Like CryptoPunk #2924, many other CryptoPunk NFTs have been sold at a higher price in the marketplace. After all, this collection is part of Yuga Labs and soon to be part of the Otherside metaverse.

The CryptoPunks community is always bullish about its prices and one was also donated to Ukraine to defend itself from the Russian invasion. The NFT was sold for $100k via a bid in the marketplace.

As the popularity of NFTs increases, the demand for blue-chip NFTs is most likely to rise as well. People who bought CryptoPunks at 150 ETH are now selling them for double the price.

For collectors and investors, having a CryptoPunk in their portfolio is essential because it is seen as a sign of identity. In celebrity culture, CryptoPunks are quite popular after BAYC.

The highest sale of CryptoPunk #2924 indicates that this PFP NFT is most likely to rise in demand by next year as well, most probably double the price.

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