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The CryptoPunks NFT collection recently saw its most valuable piece, CryptoPunk #5822, transferred to a new address, although the sale price was not disclosed. This particular NFT, an alien punk adorned with a bandana, was originally purchased by Deepak Thapliyal in 2022 for 8,000 Ether. At that time, the transaction was valued at $23.7 million, making it the highest recorded bid for a CryptoPunk and the fourth most expensive NFT sale in history.
Thapliyal announced the transfer of CryptoPunk #5822 on X (formerly Twitter), wishing the APENFT (NFT) well in its new home. Blockchain data confirmed the transfer to an unnamed address, but no information was provided about the sale price. Given the current decline in the NFT market, speculation has arisen that the NFT might have been sold at a loss. Community members questioned whether the sale represented a significant financial setback, comparing the price to the current market listing of similar CryptoPunk NFTs.
As of now, only one alien CryptoPunk is listed on the official CryptoPunks site, priced at 5,000 Ether. If the latest sale price of CryptoPunk #5822 was similar, it would represent a considerable reduction from its previous purchase price. NFT market data supports this notion, showing a substantial drop in sales volumes. In the second quarter of 2024, NFT transactions fell by 45% compared to the previous quarter, with July marking the lowest monthly sales volume since November 2023.
Additionally, an auction organized by Sotheby’s on August 15, featuring a CryptoPunk NFT alongside a Beeple piece, did not garner significant interest. The auction, intended to highlight prominent NFTs, saw minimal bidding activity. While Sotheby’s estimated the CryptoPunk’s value between $70,000 and $100,000, the only bid received was around $45,000, reflecting the current market’s reduced enthusiasm for high-profile digital collectibles.
