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NFT investor loses big: $10 million loss
A CryptoPunk NFT, purchased for 16 million dollars last year, was sold yesterday for approximately 6 million dollars, causing a significant loss for its owner.
One of the striking pieces in the collection, CryptoPunk 3100, was purchased for 4,500 ETH in March 2024. In a transaction that took place yesterday, this NFT found a buyer for only 4,000 ETH. Due to the recent depreciation of Ethereum, the sale amounted to approximately 6 million. Thus, the investor incurred a loss of 10 million dollars in a year from the same asset, which he purchased for 16 million dollars in April 2024.
The downward trend that has dominated the NFT market has been ongoing for a long time. Since 2022, the trading volumes of popular collections, especially CryptoPunks, Bored Ape Yacht Club, Azuki, and Pudgy Penguins, have significantly declined. In recent weeks, this decline has become even more apparent.
In May of last year, Yuga Labs, which holds the ownership rights of the CryptoPunks brand, announced that they would not make any attempts regarding the collection following the reactions after launching a new project.
Published: April 11, 2025 13:23Last Updated: April 11, 2025 13:24