CryptoPunk Sold at a Loss After $24 Million Purchase
Deepak Thapliyal, the owner of the most expensive CryptoPunk #5822, who acquired the token for 8000 ETH ($23.7 million at the time of the transaction) in 2022, has parted with the asset without disclosing the sale amount.
End of an Era.
? #5822, Enjoy your new ?
— Deepak (@dt_nfts) August 19, 2024
On August 19, Thapliyal posted a farewell message, wishing the CryptoPunk “luck in its new home.”
On-chain data confirmed the transfer to a new address.
The buyer is reportedly a user X with the nickname VOMBATUS. He claimed to have purchased the token for 1500 ETH (~$3.9 million) — 80% less than the previous price.
1500 eth ?️?️?️
— VOMBATUS (@vombatus_real) August 19, 2024
In 2022, the transaction was the fourth most expensive among all NFTs during the sector’s hype.
The community suspected that the token was sold at a loss.
One user on X asked Thapliyal if this was “the worst NFT hold of all time,” while another inquired about how much he lost.
Worst nft hold of all time in all of history for all of eternity??
— chefdavenyc.eth (@chefdavenyc) August 19, 2024
According to the official website, only one CryptoPunk is currently listed for sale at 5000 ETH ($13.36 million).
If the non-fungible token #5822 was valued similarly, Thapliyal might have lost 43.6% on the investment.
@nftvaluations valued this punk 5k ETH and currently only 1 alien listed at 5k ETH
Probably deal closed around 5k ETH pic.twitter.com/lkeuhBdcKr
— SomaXBT (@somaxbt) August 19, 2024
According to CryptoSlam, in July, the monthly NFT sales volume was the lowest since November 2023. The figure fell by 44% in the second quarter compared to January-March.
In February 2022, the auction house Sotheby’s put up for auction a set of 104 NFTs from the CryptoPunks collection. However, the sale did not occur due to the token owner’s withdrawal of the offer.
On August 15, 2024, Sotheby’s auctioned non-fungible tokens by digital artist Beeple and from the CryptoPunks collection. The latter did not attract interest.
At the time of writing, one bid was recorded at $45,000. Sotheby’s estimates the NFT’s value at $70,000 to $100,000. The auction will conclude on August 22 at 7:00 (Kyiv/Moscow).
Back in March 2024, American comedian Kevin Hart’s BAYC #9258 sold for 13.65 ETH — 76% below the purchase price. Pop star Justin Bieber’s token from the same collection depreciated by nearly 95%.
In the same month, CryptoPunk #7804, one of the nine so-called “aliens,” was sold for 4850 ETH, which at the time of sale amounted to $16.42 million.
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