Web3 Watch: Another CryptoPunk Sells for $16M, Recurring Trend Emerges

Just two weeks after a CryptoPunks NFT fetched $16 million in a sale, another punk has achieved the same remarkable price point. Specifically, Punk #7084 exchanged hands for $16.42 million on Wednesday, making it one of the nine coveted blueish-skinned alien punks in the collection. This sale narrowly surpassed another alien punk transaction earlier in the month, securing its position as the second-largest CryptoPunk sale to date. Notably, the transaction appears to have been conducted directly between the buyer and seller.

The seller of Punk #7084, known as Peruggia, expressed feelings of being an "imposter" while owning the punk without adequately "elevating" its value. Peruggia shared, "After over a year of looking around, I feel I've found the right buyer with the right vision to appropriately elevate this asset." With this sale, Peruggia walks away with a significant windfall, having initially acquired the NFT for $7.57 million back in 2021. The CEO of Pudgy Penguins, Luca Netz, responded to the news with admiration, calling Peruggia a "legend."

First introduced in 2017, CryptoPunks surged in popularity during the NFT frenzy of 2021 and continue to command attention today. The cheapest punk available from the 10,000-piece set commands a price of $166,242, making CryptoPunks the largest NFT collection by market capitalization, according to NFT Price Floor.

Meanwhile, amidst legal challenges, former Binance CEO Changpeng Zhao has announced his next venture post-Binance. Zhao is launching Giggle Academy, a project aimed at providing free basic education to all. He revealed his plans via X this week and mentioned that he is in the process of assembling a small team to work directly with him on the project.

In a concept brainstorm released in February 2024, Zhao outlined that Giggle Academy will not have a native token but will instead utilize soulbound tokens—non-transferable NFTs—to certify students' progress on the platform. This innovative approach reflects Zhao's commitment to leveraging blockchain technology to address societal challenges and democratize access to education.