CryptoPunks Owner Declines Record-setting $9.5 Million Offer, Explains Why
16 Octobre 2021 - 09:52AM
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Earlier today, the owner of the non-fungible token CryptoPunks
#6046 declined a bid of $9.5 million dollars in Ethereum (ETH),
which would have been the highest on-chain NFT transaction to date.
The bidder, who goes by an ENS of poap.eth, placed the
record-setting bid after the CryptoPunks owner tweeted: “My punk is
not for sale. Don’t care what anyone offers me.” CryptoPunks
is an NFT collection of 10,000 randomly generated images created by
Larva Labs, and is widely touted and recognized as the #1
collection across the entire NFT space. Related Reading |
Cryptopunks are Headed to Hollywood The project is an all-time
leader in total transaction volume at 552,073 ETH, or approximately
$2.1 billion. Bored Ape Yacht Club (BAYC), which is the next
largest collection on OpenSea, has recorded 1/5th of CryptoPunk’s
all-time sales volume. According to data from Larva Labs, the most
expensive transaction to date was $7.57M for Punk #7804 back on
March 11, 2021. Come on Richerd. Don't you want to go down in
history as the top cryptopunk sale to date?
pic.twitter.com/JEeIMo2MEm — POAP – The bookmarks of your life
(@poapxyz) October 15, 2021 If the bid made by poap.eth were to
have been accepted, CryptoPunk #6046 would have become arguably the
most valuable CryptoPunk by more than 500 ETH. Interestingly enough
however, the owner himself admitted that the “value” of his NFT was
nowhere near the ballpark of $9.5M: [#]6046 is probably not worth
2500 ETH, it’s a mid tier punk due to its defining 3D glasses
traits. So why would someone offer 2500 ETH on it?” How
Exactly are CryptoPunks Valued? Within NFT collections, the value
of an individual piece is often determined by the rarity of its
traits and characteristics. This is the case for CryptoPunks, with
extremely rare traits like Aliens (0.09%) fetching a far greater
price than ones with more common traits. In the case of Punk #6046,
its trait of 3D glasses (3%) would be worth considerably less than
extremely rare traits. The average price of a CryptoPunk has
skyrocketed over the past year, with data from DuneAnalytics
showing a 1300% increase in average sales price since the beginning
of the year. Despite these meteoric increases in price, the NFT
space is still in relative infancy. Related Reading | Forget NFT
Avatars: Owning and Trading NFT Colors Could be the Next NFT Trend
on OpenSea Coinbase, which recently announced its plans to
release an NFT marketplace, saw over 1.5 million sign ups – a
number trumping OpenSea’s user base by several fold. According to
dappRadar, OpenSea has a total user base count of 263 thousand.
With Coinbase entering the NFT space, there’s little to no doubt
that the industry will continue to grow exponentially.
Interestingly enough, @richerd explained the reasoning behind
rejecting the offer. He implied that his brand and online persona
was largely connected to his CryptoPunk, and selling it would
effectively sever this bond. “My identity, along with [the]
identity of other iconic Punks, have value beyond the NFT itself.
We have our own brands similar to any other brand and that has
value. Because I value my personal brand and identity, this was an
easy rejection for me.” Featured image from Larva Labs
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