Christie’s to Auction Off 9 CryptoPunks for an estimated $7–9 Million Tonight
The 255-year-old auction house is set to sell this set of nine of these popular NFTs at 8 PM EST tonight, as part of their 21st Century Evening Sale. It is estimated by Christie’s that these will sell for a record-breaking sum of between $7 million and $9 million.
Christie’s, aside from being an internationally renowned venue with offices in New York and London, is also famous for bringing NFTs onto the world stage like never before. Digital artist Beeple sold his digital art collage, “EVERYDAYS: THE FIRST 5000 DAYS,” at a Christie’s auction for a record $69 million on March 11, 2021.
To help you understand what the heck is going on here, let’s break down a few concepts:
What is an NFT?
NFT stands for non-fungible token. Fungible means it can be easily replaced or exchanged with others like it. Non-fungible means it can’t be, in other words, it is unique.
Cryptocurrencies are essentially fungible tokens on a blockchain — they can be exchanged or replaced by other cryptocurrencies of the same amount. Regular money is fungible too — a $20 bill can be traded for another $20 bill anywhere.
Non-fungible, or unique, tokens can also be created on a blockchain, for things that you…
