Global brands and superstars are continuing to plunge into the digital art world.
Justin Sun, founder of cryptocurrency company, Tron, recently bought an EtheRock NFT for US$611,170. Visa also acquired Larva Lab’s CryptoPunk #7610 for 49.5 Ethereum (cryptocurrency, 1 Ethereum=approx. US$3,335 dollars), equivalent to US$165,091 dollars for the company’s collection on August 19.
Christie’s Hong Kong will hold the first profile pic non-fungible token (PFP NFT) themed auction in Asia from 17 to 28 September. The sale, “No Time Like Present”, will allow buyers to bid for three most popular types of NFT artworks, namely CryptoPunk #9997, Bored Ape Yacht Club (BAYC) #8746 and Meebit #6337. Profile pic NFTs, known as PFP, can be used as a buyer’s profile picture or avatar, extremely popular on Twitter.
These digital characters are computer generated, and each have their own characteristics.
Christie's Preview Video of first NFT sale in Asia
CryptoPunk #9997 was sold for 100 Ethereum (US$333,517 dollars) on 8 February. It was last transferred on 2 August, with no price and was not listed for sale by owner.
BAYC #8746 was sold for 14.99 Ethereum (US$49,994 dollars) on 2 May. It was last transferred on 2 August, with no price and was not listed for sale by owner.
Meebit #6337 was sold for 44.1818 Ethereum (US$147,354 dollars) on 26 June. It was last transferred on 2 August, with no price and was not listed for sale by owner.
This auction is the first time a BAYC and Meebit will be offered outside of any NFT trading platform.
More information will be announced closer to the auction.
CryptoPunks are a collection of 10,000 pixelated faces.
This digital character has 0.88 per cent similarities with other CryptoPunks being a Zombie, 3 per cent similarities with its cap pointing forwards and 3 per cent similarities in terms of beard.
Most CryptoPunks include humans (male and female), while other characters such as zombies, apes and aliens also appear. They are developed by LarvaLabs, spearheaded by Canadian software developers Matt Hall and John Watkinson in June 2017. The digital artworks were one of the first NFT on the Ethereum blockchain.
Recent iconic sales of Larva Labs’ pack of 9 CryptoPunks sold for US$17 million dollars in May.
Bored Ape Yacht Club are a collection of 10,000 Ape characters, designed by Yugo Labs.
In comparison with other Apes, this digital character has 0.42 per cent similarities wearing a black suit, 0.49 per cent similarities with a blue beam, 3 per cent similarities having a halo and 4 per cent similarities having cheetah printed skin.
Each character has characteristics such as accessories, fur colour and illustrated lasers. An Ape wearing a party hat with lasers shooting out of its eyes, sold for US$653,344 dollars on OpenSea in August.
Meebit is a collection of 20,000 digital characters, also created by LarvaLabs.
This digital character has 0.28 similarities with other Meebit characters being a skeleton, 2 per cent similarities wearing suit trousers, 6 per cent similarities wearing a suit and 14 per cent wearing grey colour shoes.
Different to CryptoPunks, Meebits are portrayed in 3D with a full body. An additional asset pack allows owners to drop their Meebits into standard animation software, which makes it possible to use them as avatars in the metaverse, a virtual shared space.
Meebit #18574 was sold for 469 Ethereum (US$1.28 million dollars) on 4 August.
Wider range of buyers
The auction house’s expansion of its NFT sales cultivates a new generation of buyers. 73 per cent of NFT buyers are new to Christie’s, with an average age of 38. This is 13 years younger than the average age for clients in other sales.
No Time Like Present (Online Auction)
Auction House: Christie's Hong Kong
Date: 17 – 28 September 2021
Sale: NFT Artworks