NFT Disaster: CryptoPunk Just Sold at a Jaw-Dropping $10M Loss
In a significant development within the NFT market, CryptoPunk #3100—one of the rare nine Alien Punks in the 10,000-piece collection—was sold on March 4, 2024, for 4,500 ETH, equivalent to approximately $16.03 million at the time. This transaction marked the second-highest sale for a CryptoPunk, underscoring the enduring value attributed to these unique digital assets.
The buyer, whose identity remains undisclosed, initially offered 4,250 ETH but increased the bid to 4,500 ETH to secure the purchase. Notably, the wallet used for this transaction was newly created and funded shortly before the sale, suggesting a deliberate and strategic acquisition.
CryptoPunk #3100 has a notable sales history, including a previous sale in March 2021 for 4,200 ETH (approximately $7.58 million at that time). The recent sale reflects the fluctuating nature of the NFT market, where valuations can vary significantly based on factors such as rarity, market demand, and cryptocurrency price volatility.
A general decline in NFT market activity, with floor prices for CryptoPunks dropping from peaks of over $400,000 in November 2021 to around $64,000, rare items like Alien Punks continue to command high prices. This sale highlights the sustained interest and investment in distinctive digital collectibles within the evolving landscape of NFTs.
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