The Bored Apes enjoy the spotlight, but it’s still the old guard who rules the NFT space. A 2018 XCOPY early artwork sold for 1,630 Ethereum. At today’s prices, that’s more than $6 million.
The item is XCOPY’s “All Time High In the City”. It is a stark and foreboding portrayion of Death the ferryman as he transports a beleaguered merchant to hell. The image flashes menacingly through black and deep red shades.
CryptoArt piece sold for 1,000 ETH a while ago. Not a rare collectible or a utility NFT.
— Loopify 🧙♂️ (@Loopifyyy) January 2, 2022
Now, it sold for 1,630 ETH.
Collectibles $ -> 1/1s $ https://t.co/2521lQ5Al7
On November 16, 2018, “All Time High in the City” was added to the blockchain. It was then sold for 10 Ethereum, $1,436 in December 2019, a full one year later. It remained there until last September, when it was purchased for 1,000 ETH and $3 million. Now, the value of the artwork has risen to $6 million at the end of the year. This was for one single artwork that does not have the community or utility promise by its PFP counterparts. Purely because of the artwork’s intrinsic value. Amazing.
It seems that there is no substitute to heritage when it comes to NFTs. A lot was made recently about the ” flippening”, the moment when the Apes floor prices (briefly speaking) exceeded those of CryptoPunks. It’s evident that Punk sales are much higher than their simian counterparts.
