CryptoPunk NFT owner hoping for US$91 million from sale

CryptoPunk 3100 previously sold in March for US$7.6 million.
CryptoPunk 3100 previously sold in March for US$7.6 million. Photo credit: Supplied

The owner of CryptoPunk 3100 is hoping to take advantage of the ongoing interest in non-fungible tokens (NFTs) by offering it for sale for 35,000 ether - the equivalent of US$90.5 million.

And while that may seem like an outrageous amount for a piece of pixelated art, the punk had previously sold for 4,200 ether - $US7.6 million - in March.

Since then CryptoPunk 7523 sold for US$11.8 million in a Sotheby's auction - and in just 24 hours at the end of the last week, over US$55 million worth of CryptoPunk sales were noted by Larva Labs, creators of the artworks.

CryptoPunks were created in 2017 and there are only 10,000 of the characters, each one unique. Punk 3100 is one of just nine alien punks, and the only one with a headband.

The average sale price for a punk in July was just under US$100,000, with nearly 1400 transactions.

Anyone willing to part with nearly US$91 million for the NFT gets digital ownership of the CryptoPunk in their cryptocurrency wallet.

That ownership is verified on the blockchain, allowing it to be sold again but doesn't stop anyone else from having their own digital copy of the artwork - it just means they can't sell it.

The most received so far for a single NFT was the US$69.3 million digital artist Beeple received in March when his artwork "Everydays - The First 5000 Days" was auctioned by Christie's.

That was the first time a non-physical piece of art had been sold by a major auction house.

Other popular NFTs include Bored Ape Yacht Club - a limited collection of digital apes where ownership also allows you membership of an online club - and World of Women, 10,000 randomly generated digital portraits of women.

And, last month a 12-year-old in England revealed they'd earned NZ$250,000 worth of ether in just nine hours after creating pixelated Weird Whales artwork and selling them as NFTs.