Well, neither of these bids were accepted or countered. Still, it has been another unprecedented and record-setting week for Larva Labs NFTs! Both CryptoPunks and AutoGlyphs have exploded in price, with a ‘floor’ CryptoPunk now costing upwards of 15 ETH each!
It’s not just the floor Punks on the move, 4 of the top 10 all time CryptoPunk sales have been made in the past five days!
That’s right. 2 single attribute Apes have broken the previous Alien Punk sales record.
Ape Punk #4156 bought by GaryVee, we are still trying to find out who bought the 800ETH Ape.
The previously held Zombie sales record was broken, and two days later broken again!
What an incredible record-setting week for NFTs! Punks are once again the number 1 NFT project by market cap. Three times the volume of this week's runner-up project, Hashmasks.
I am guessing Feb 21st won’t look like a dip by the end of the day
Another individual sale well worth mentioning occurred this week, and boy was it exciting to watch! After a couple days of watching the initial listing price slowly reduce, a full set of AutoGlyphs sold for 731 ETH! Big congrats to the new owner SETHS for his purchase, and to the Larva Labs developers for their record breaking Glyph sale. Well earned by both parties. As it turns out, the purchaser of this set also made the recent Alien Punk #2890 sale!
There are now 16 Glyphs for sale in total, with a floor price of 50 ETH. Wow!
Though there are frequent special happenings in the Larva Labs Discord, another jumped out at us this week as well. 'NateAlexNFT, long term Larva Labs follower and creator of www.chainfaces.co, www.squiggly.wtf, and infinft.com, sold his all-time favorite NFT, Punk #5684, for the ‘low’ price of 44 ETH back in August 2020.
With the recent Punk explosion he bid 100 ETH on it in hopes of just maybe 'getting a pity acceptance', which failed. Apparently DANNY says he is never getting her back 🙍♂️ For Nate, this is 'un-ironically the Punk that got away'.
‘I started to really love punks in the months I held my best one. I got to know a lot of the Punk OGs and found I enjoyed the community in much the same way I did in earlier day CK. I understood at last, Punks were special. I wanted more but I always was waiting for the price to drop, which never really happened!’
Thanks for sharing your story with RLE. Let us all learn from Nate!
He might be scooping the punk floor soon for a YT video. In any case, we are living the most exciting NFT days ever! History is happening right in front of our eyes daily!
Is there a news catalyst to search for which explains this latest price surge? Bank of New York Mellon, the oldest bank in the US announced they would soon begin transacting Bitcoin. MicroStrategy’s additional $250 Million treasury to BTC conversion, along with plans to raise another $900 million to buy even more? Tesla taking a massive treasury position in BTC of their own? (Not to mention Elon’s Twitter profile action!)
Grayscale has been continually purchasing BTC faster than it has been mined in calendar 2021. The Motley Fool stock advisement platform has announced a $5 Million BTC investment of their own, siting all those long familiar reasons. It’s becoming a bit self-evident, isn’t it? The price rise is to do with what has frequently been declared inevitable. Ongoing demand (now institutional demand) meeting dwindling supply. Binance CEO Changpeng Zhao has recently suggested that what we are now witnessing is only the beginning, and most are still unprepared for what comes next...
“Right now, only 11 companies have announced they are allocating some, like usually less than 1% of their corporate treasury, to Bitcoin. And we think that is most likely what caused the initial price rise. I think Microstrategy’s Michael Saylor started it first. But there are 650,000 companies in the world… like relatively established companies in the world. And their treasury is huge.
If all of them only allocated 1% to Bitcoin we are going to see, I don’t know, 1,000x more growth in Bitcoin price. And if they allocate more than 1%, that’s going to be even bigger. So I think people don’t quite get the magnitude of the wave that is about to hit us.”
Zhao has also expressed that their exchange is onboarding new individual users at a continual and unprecedented rate, even outpacing their user growth during the 2017 bull run.
“Just to give people an idea, in 2017 when Bitcoin hit the peak of about $20,000 we were seeing 300,000 new registered users per day. And that only happened for a couple of days and then it kind of trailed off and became slower. Now we are seeing sustained new user registrations above that peak and sustained over like the last 2-3 months. And it’s increasing.”
Even once highly skeptical and reluctant financial experts are beginning to adjust their views. Times are changing.
Every time I take half of my working day to walk into a bank, or make 3 calls and wait weeks to get things done, I think “banking is like printed newspapers; the Internet is coming to eat you alive and you really don’t even know it yet.”— Willy Woo (@woonomic) February 19, 2021
There is no shortage of similarly bullish price targets going forward. ‘In a three-way interview on The Investor’s Podcast Network, on-chain data expert Woo reveals that by his estimations, whales are heavily accumulating BTC while retail investors are just getting started, indicating that Bitcoin is still in the early stages of a bull market.
On Saturday, February 20th, following shortly behind BTC, Ethereum has also posted new all-time highs. After breaking through $2,000 the second largest market cap crypto retraced only slightly before finding support near $1,850, rebounding quickly to above $1,950...
Christie’s, the auction house, announced on Tuesday, Feb.16, that they will sell Beeple’s new piece, “First 5000 Days.” This will make Christie’s become the first major auction house to sell a completely digital NFT. They also announced they will accept ETH as a form of payment, which is also a first for an auction house.
Christie's is excited to announce that, for the first time, it will accept Ether as a payment option for the sale of @beeple's 'First 5000 Days.' We are grateful to @beeple +@makersplace for its partnership on this monumental sale🚀https://t.co/SMFlp486oK— Christie's (@ChristiesInc) February 18, 2021
What better way of Christie’s doing all these first than with Beeple? He is the motherfucker that revolutionized his iconic $1 editions. Beeple seems to continually be pushing the envelope of how NFTs can be sold and marketed. To put it simply, he’s a genius.
Beeple wrote in his Instagram announcement, “I could not be more honored and humbled to be representing the digital art community for this historic sale!!!”
The piece that is being auctioned off is a stitched picture of all of his works from every day for the past 13 years. From his starting of basic drawings to his more recent 3D works, you get to see his progression through time as an artist.
The auction will start on Feb. 25 and last until Mar. 11 and will begin with a bidding price of $100. One interesting fact, an auction house will usually set an estimated value price of the work, but in Beeple’s case, because it is the first time a fully digital NFT will be sold, the estimated value is unknown.
One person to look out for in this auction is Metakovan from Metepurse. Let’s take a quick look at what Metakovan has been up to and why he would be a favorite to win the auction.
After buying up, all of Beeple’s 1/1 NFT’s Metepurse announced Metapalooza, the largest metaverse event in history. The event was to celebrate the launch of the B.20 bundle and the museum of Beeple’s work. The B.20 bundle included 20 of Beeples and was tokenized and sold. This allowed buyers to purchase a part of Beeple’s work which is an interesting concept because instead of just appreciating the artwork a person can now know they own a part of it.
The B.20 Metapalooza is the largest Metaverse event to date. We'd take credit, but when over 2,500 people show up, and over 500 get #B20s, it means we got upstaged by the Metaverse. We love you and we promise to build bolder, bigger, better, for you.https://t.co/KlZF9UQZ0d— Metapurse.eth (@metapurse) January 29, 2021
Well, I believe he would want to add to the museum and continue on his work of the B.20 bundle. It definitely is not guaranteed that he is going to win or even bid, but one thing is for sure; the auction will break a record…of the most expensive, completely digital, NFT sold by an auction house.
Pest Supply was able to make 512 ETH off of this ingenious scheme. Because Bansky is known for doing secretive projects, people jump on board. Pest Supply started selling on Feb. 14 but became super active on Feb. 19, selling most of the pieces. The account eventually got banned on OpenSea, and all of the transaction histories have been wiped.
The NFT used the same stencil art style, and the pieces have some political undertones Banksy is known for. The works brought much hype, and one was bought by 0xb1 for 34 ETH.
The first reason is Banksy is known for secretive projects. For example, he once sold original pieces for $60 in Central Park. Secondly, "Pest Control'' is a non-for-profit company run by Banksy that acts as an authenticator for his artwork. Although it’s unlikely in this case, Pest Control is known for denying ongoing works by Banksy. Besides these points, some were able to quickly point out how it was most likely a scam and not a true Banksy work, including us.
Most likely it's a scam. It's building trust with the little sales and might exit if big sales. However banksy has sold his work as fake on the street, ended up being authentic. The main turn off is that the concept is a little shallow , way way below Banksy's standard— Redlioneye.eth (@redlioneye13) February 19, 2021
Max Osiris emailed Pest Control trying to get the authentication of the NFT. Pest Control denied any affiliation in any shape or form with the supposed Banksy account. This might be the nail in the coffin for some, but Pest Control is known for denying ongoing works by Banksy.
The most apparent clue that these are fake Banksy's comes from Pest Supply's Rarible bio. It says, "Blocked by decentralized OpenSea as they have no idea who Elaine Sturtevant is and know nothing about art history." For those who don't know art history, Elaine Sturtevant is an American painter known for making replicas of other artists' work. So, Pet Supply is hinting they're trying to be Elaine Sturtevant by making replicas of Banksy.
A great thread to look at is one made by ETHBULL. Here they explain how Pest Supply's address has been selling other NFTs before creating the Banksy look-alikes.
Pransky jumped on the train and minted his own Banksy look-alike NFTs. This joke has the very thoughtful name "Pest Demands" and is currently sold at 0.25 ETH.
Also, Pest Demands has donated 23.2 ETH to Save The Children. The donation was funded by the piece "Save The Children Red Edition." So that's definitely a good thing to come out of it. The guy was able to make over $1 million in this scheme and also made a donation to charity...