CryptoPunk #7756, a computer-generated 24 x 24 pixel art image, has been sold for 1,050 Ethereum ($3.2 million), according to an account “CryptoPunks Boton Twitter that tracks recent “CryptoPunk” purchases.

The polka dot avatar depicting an alien with bloodshot eyes and green skin is part of a collection of 10,000 digitally rare faces that has revolutionized the NFT industry.

In February, a rare CryptoPunks NFT was purchased for $23.7 million by the CEO of Chain.

The Ethereum-backed project was launched in 2017 when NFT was still an obscure concept that was only known to some crypto enthusiasts.

At first, Larva Labs, the company behind the flagship group, released some free CryptoPunks as a trial before the project gradually started to gain traction.

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The group’s popularity reached gigantic proportions in 2021, with notable celebrities such as rapper Jay-Z buying it up for influence.

Suddenly, whimsical pixelated images became a status symbol.

One of the earliest NFT projects, CryptoPunks, led the creation of other successful groups.

NFT’s trading volume has now exceeded $2 billion.

The recent purchase proves that the NFT hype is still alive and well despite the fact that the prices of the largest cryptocurrencies are far from record highs.

Last month, Yoga Labs, creator of the Bored Ape Yacht Club (NFT), announced that it had bought CryptoPunks, cementing CryptoPunks’ dominance in the industry.

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