Investor Deepak Thapliyal bought CryptoPunk #5822, a unique alien punk, for 8,000 Ether ($23.7 million) in 2022, setting the highest bid for a CryptoPunk NFT.
As the interest in digital collectibles began to decline, the most costly item from the CryptoPunks non-fungible token (NFT) collection was sold for a sum that was not disclosed.
NFT investor Deepak Thapliyal purchased CryptoPunk #5822, a unique alien punk wearing a bandana, for 8,000 Ether in 2022. In addition to being the highest winning bid for a CryptoPunk NFT, the transaction was valued at $23.7 million and was lauded as such.
Furthermore, it is considered the fourth most expensive non-financial transaction sale in the world’s history. When Thapliyal left the NFT on August 19, he sent a farewell message on X, wishing it well on its new home and wishing it the best of luck.
The blockchain data revealed that Thapliyal relocated the NFT to an unmarked new address. However, Thapliyal did not disclose the amount of money from the sale of CryptoPunk #5822.
The community members assumed that the sale of the CryptoPunk was at a loss due to the declining value of NFTs. One of the users of X asked Thapliyal whether or not it was the “worst NFT hold of all time,” while another asked about the amount of money the investor lost after purchasing the piece at a high price.
As stated on the official CryptoPunks website, there is currently only one alien Punk available for purchase. A current listing for the NFT is for 5,000 ETH, which is equivalent to $13.36 million.
Because of this, a user of X believes that CryptoPunk #5822 was acquired at a price range that is comparable to the one described above. In the event that it is accurate, the investor would suffer a loss of 43.6%.
Because the NFT statistics indicate a decrease in sales quantities, the community’s beliefs may not be completely wrong. The value of NFTs had a fall of 45% from the previous quarter to the second quarter of 2024.
Since November 2023, the monthly sales volume of NFTs has been at its lowest point in July. On August 15, the fine arts broker Sotheby’s announced that it would be auctioning off a piece of Beeple as well as a CryptoPunk NFT.
In their marketing materials, the auction house referred to the sale as a “significant event” that brings together high-quality works. Despite this, the CryptoPunk NFT did not receive a significant number of offers.
There has only been one bid on the NFT as of the writing of this article. While Sotheby’s values the NFT between $70,000 and $100,000, the single bidder is only willing to spend approximately $45,000. According to Sotheby’s, the auction will end on August 22 at approximately two o’clock in the afternoon Eastern Time.
