CryptoPunks NFT Sells for $6 Million in Ethereum—At a $10 Million Loss

A CryptoPunks owner offered their NFT for $6 million worth of Ethereum on Thursday, netting a $10 million loss at the same time.

CryptoPunk # 3100, among 9 Alien Punks in the 10,000-piece collection and the just one with a headband, cost 4,000 ETH or about $6,076,840 at existing rates by means of a personal deal on the CryptoPunks market. The offer was supposedly brokered by crypto art brokerage Water fountain.

The confidential seller had actually at first acquired the # 3100 in March 2024 for 4,500 ETH, or around $16 million at the time– the 3rd biggest all-time, on-chain sale of a CryptoPunks NFT.

Now however, the 500 ETH loss has actually totaled up to a bottom line of around $10 million on the property, offered just how much the worth of ETH has actually tipped over the in 2015. The rate of Ethereum has actually fallen by 57% over the last 12 months, per information from CoinGecko.

While the purchaser and seller have actually not been determined, the buying wallet moneyed its account early Thursday afternoon with 4,001 ETH from an account that Ethereum block explorer Etherscan labels as “Coinbase Prime 2.” The wallet has actually taken no other on-chain actions at this time.

CryptoPunk # 3100 now beautifies the leading sales leaderboard on the CryptoPunks market 3 different times, having actually formerly cost $7.58 million and $16.03 million. Today’s sale is the biggest on-chain CryptoPunk sale given that April 25, 2024.

On that day, Punk # 7804— an Alien with a cap, tones, and pipeline– cost $16.42 million, the 2nd biggest on-chain CryptoPunks sale of all-time.

Alien CryptoPunks are the most uncommon “type” of Punk, edging out Zombies and Apes, qualities that are offered on 88 and 24 Punks, respectively. Sales of Aliens comprise the 7 greatest on-chain Punk sales, consisting of the greatest ever– when Punk # 5822 cost $23.7 million in February 2022.

While CryptoPunks has actually preserved its status as the premier profile photo NFT collection, the property’s monetary efficiency has actually been less than preferable for owners. The collection’s flooring rate, or the most affordable worth of a possession noted on the market, has actually dropped 44% in the last 90 days to $64,727 according to NFT Cost Flooring

Developed by Larva Labs in 2017 and initially totally free to claim, the collection formerly developed an all-time high flooring of more than $400,000 in November 2021. The IP was later on offered to Bored Ape Luxury yacht Club developer Yuga Labs in 2022.

Modified by Andrew Hayward