{"id":80409,"date":"2023-06-19T13:06:33","date_gmt":"2023-06-19T10:06:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80409"},"modified":"2025-09-11T16:50:49","modified_gmt":"2025-09-11T13:50:49","slug":"bitcoin-enthusiasts-burn-cryptopunk-worth-94000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-enthusiasts-burn-cryptopunk-worth-94000\/","title":{"rendered":"Bitcoin enthusiasts burn CryptoPunk worth $94,000"},"content":{"rendered":"<p>On June 18, a group of users purchased the non-fungible token <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cryptopunks\">CryptoPunk<\/a> #8611 for 54.5 ETH (about $94,000 at the time of the deal), and a few hours later sent it to a burn address.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Holders from <a href=\\\"https:\/\/twitter.com\/banditsbtc?ref_src=twsrc%5Etfw\\\">@banditsbtc<\/a> are crowdfunding to burn a CryptoPunk<\/p>\n<p>The idea is to use <a href=\\\"https:\/\/twitter.com\/an_app_by_bb?ref_src=twsrc%5Etfw\\\">@an_app_by_bb<\/a> to burn a Punk on ETH, inscribe it on BTC and send it to Satoshi wallet!<\/p>\n<p>+ win <a href=\\\"https:\/\/twitter.com\/OrdinalMaxiBiz?ref_src=twsrc%5Etfw\\\">@OrdinalMaxiBiz<\/a> WL<\/p>\n<p>Let`s underunstand how the process will work<a href=\\\"https:\/\/t.co\/dIekg2YaMF\\\">https:\/\/t.co\/dIekg2YaMF<\/a> <a href=\\\"https:\/\/t.co\/b8IS1GMQoN\\\">pic.twitter.com\/b8IS1GMQoN<\/a><\/p>\n<p>\u2014 NatanStein (@natan_stein) <a href=\\\"https:\/\/twitter.com\/natan_stein\/status\/1669556224940208129?ref_src=twsrc%5Etfw\\\">June 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Later, a Bitcoin NFT based on the burned token appeared.<\/p>\n<p>The initiative was led by Wolf Capital developer Natan Stein and the owners of the Bitcoin Bandits project, focused on <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-nfts-how-the-ordinals-project-is-shaping-the-bitcoin-blockchain\">Ordinals<\/a>. About 150 people contributed to the token&#8217;s purchase.<\/p>\n<p>In the crypto industry, burning a digital asset means sending it to an address that is not controlled by anyone. <a href=\\\"https:\/\/etherscan.io\/address\/0x000000000000000000000000000000000000dead#nfttransfers\\\">Wallet<\/a>, to which the token was sent, holds about $21 million in ETH.<\/p>\n<p>A user using the alias Minh shared a video of the purchase and destruction of the non-fungible token. He described the step as \\&#8221;chaotic, but beautiful\\&#8221;.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The first CryptoPunk teleburned from ETH to BTC.<\/p>\n<p>[feat.]<br \/>\u25d8 <a href=\\\"https:\/\/twitter.com\/OrdinalMaxiBiz?ref_src=twsrc%5Etfw\\\">@OrdinalMaxiBiz<\/a> <br \/>\u25d8 <a href=\\\"https:\/\/twitter.com\/banditsbtc?ref_src=twsrc%5Etfw\\\">@banditsbtc<\/a> <br \/>\u25d8 <a href=\\\"https:\/\/twitter.com\/ZK_shark?ref_src=twsrc%5Etfw\\\">@ZK_shark<\/a> <br \/>\u25d8 <a href=\\\"https:\/\/twitter.com\/ChartFuMonkey?ref_src=twsrc%5Etfw\\\">@ChartFuMonkey<\/a> <br \/>\u25d8 + more legends. <a href=\\\"https:\/\/t.co\/BFNfrcJyyM\\\">pic.twitter.com\/BFNfrcJyyM<\/a><\/p>\n<p>\u2014 Minh (@MINHxDYNASTY) <a href=\\\"https:\/\/twitter.com\/MINHxDYNASTY\/status\/1670311105984598016?ref_src=twsrc%5Etfw\\\">June 18, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to Stein, CryptoPunk #8611 was not burned solely for entertainment. He cited the aim of creating more Bitcoin NFTs based on other collections. The first token will be sent to the wallet of Bitcoin&#8217;s creator, Satoshi Nakamoto.<\/p>\n<p>Earlier, NFT collector Brandon Riley by mistake <a href=\"https:\/\/forklog.com\/en\/news\/nft-collector-accidentally-burns-cryptopunk-worth-129000\">sent<\/a> CryptoPunk #685 to a burn address. He bought the token for 77 ETH \u2014 about $129,000 at the time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 18, a group of users purchased the non-fungible token CryptoPunk #8611 for 54.5 ETH (about $94,000 at the time of the deal), and a few hours later sent it to a burn address.<\/p>\n","protected":false},"author":1,"featured_media":80410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1432,1213],"class_list":["post-80409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptopunks","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80409"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80409\/revisions"}],"predecessor-version":[{"id":80411,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80409\/revisions\/80411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80410"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}