NEW DELHI : A non-fungible token, or NFT, called CryptoPunk #8857 on Saturday was sold for 2,000 ether, or $6.63 million, on OpenSea, a peer-to-peer marketplace for NFTs, making it the fourth most expensive digital collectible sold so far. At the current rupee exchange rates, 2,000 ether comes to about ₹49 crore.
The identities of the buyer and the seller were not immediately known.
In May 2018, CryptoPunk #8857 was sold for 2.5 ether, or $1,717.
NFTs are currently taking the digital art and collectibles world by storm. They are a way to represent ownership of a digital good, such as an image, video, or piece of text, and most NFTs are part of the ethereum blockchain.
CryptoPunk #8857 is among the 10,000 collectible characters built on the ethereum blockchain. CryptoPunks are among the most sought-after NFTs in the world.
With the latest sale, CryptoPunk #8857 has become the fourth most expensive NFT sold ahead of Crossroads by Beeple, which was sold for $6.6 million.
Last month, financial services major Visa entered the NFT-commerce space after it acquired CryptoPunk #7610 for 49.5 ether, or around $150,000.
According to the company, NFTs have the potential to become a powerful accelerator for the creator economy and lower the barrier to entry for individual creatives to earn a living through digital commerce