Another bizarre CryptoPunks' sale in the last seven days — this time for an unreasonably cheap price
CryptoPunk 7557sold for a 97% discount on OpenSeatoday, in a second unusual CryptoPunks’ sale over the last seven days.
NFTwas auctioned off at 4.444 Ether, which The Block suspects was a punctuation error with the decimal point intended to be a comma.
- Instead of $19.4 million, the seller had to accept a price of $19,400.
AdvertisementCryptoPunk 7557 sold for just 4.444 Ether (ETH), which is worth around $19,400, today. According to The Block, its market value is more along the lines of $850,000 and the sale was the result of a punctuation mistake. It postulates that the buyer actually meant to sell the CryptoPunk for 4,444 ETH amounting to $19.4 million — not $19,400.
CryptoPunk 7557 is one of the only 55 non-fungible tokens (NFTs) within the CryptoPunks collections that features a tiara giving it the name ‘Tiara Punk’ within the crypto community. And, the last one sold for a whopping $843,000.
Even the company behind the development of CryptoPunks, LarvaLabs, pegs the cheapest ‘Tiara Punk’ at a price of 350 ETH, which is approximately $1.5 million.
Historical data on CryptoSlam.io, a database of non-fungible tokens (NFTs), shows that the buyer originally bought the CryptoPunk for $134,487 four months ago. Since then, the market value of CryptoPunks has exploded, especially amid the onset of ‘Uptober’. Had CryptoPunk 7557 been sold for $19 million, the former owner would have seen 141-fold return on their investment.
This is the second unusual CryptoPunks’ sale in the last seven days
Last week, CryptoPunk 998, sold for $532 million and was momentarily thought to be the most expensive NFT in the collection. However, it later turned out that it was actually the owner pumping up the CryptoPunk’s price by selling it to themselves using a flash loan but not before Crypto Twitter was already questioning the deal — theories ranged from the transaction being a scam or security exploit to allegations of money laundering.
CryptoPunks are a collection of 10,000 digital avatars, each with their own unique combination of features like an alien with a mask and hat or a zombie with crazy hair and a chip strap. In October, nine of them sold for upwards of $1 million. This month the highest sale so far clocked in at $676,313 for CryptoPunk 7088.
The Cryptopunks collection is the second biggest NFT project in the world worth over $1.6 billion, according to CryptoSlam.io.
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