- NFT and crypto investor Deepak Thapliyal has sold his CryptoPunk NFT which he bought for $24 million in 2022
- Thapliyal didn’t close the details of the transaction, only saying that the Punk has found a new home
- The Punk is among the nine rarest in a collection with 10,000 collectibles
One of the top nine rarest CryptoPunk NFTs in a collection of 10,000 collectibles has changed hands for an undisclosed amount. The NFT was in the custody of NFT and crypto investor Deepak Thapliyal, who bought it in 2022 for $24 million. Thapliyal only said that CryptoPunk #5822 had found a new home, a sign that it may have fetched a lower price than what he paid for it due to the current slump in the NFT market.
CryptoPunks’ Floor Price Plummets
On-chain details about the Punk indicate that the Ethereum NFT was sent to a wallet that only holds the collectible. According to NFT exchange OpenSea, the collectible has changed hands 12 times in the last two years.
End of an Era.
👋 #5822, Enjoy your new 🏡
— Deepak (@dt_nfts) August 19, 2024
The sale attracted the attention of the NFT community with most speculating that Thapliyal lost money in the transaction because it’s unlikely that it fetched the same high price it did during the NFT boom in 2021 and 2022.
wonder if this is the largest NFT loss ever
— –ι═══════ﺤ (@66blades) August 19, 2024
The CryptoPunk sale comes when the NFT market is experiencing a slump that started in 2023. According to NFT Price Floor, the NFT winter has caused NFT floor prices to shrink from $200,000 to $59,000 in the case of CryptoPunks.
Pudgy Penguins’ Floor Price Hits All-time High
Yuga Labs Bored Ape NFT collection has also seen its floor price plummet from $370,000 in May 2022 to $32,000 at the time of writing. However, a few NFT projects like Pudgy Penguins have recorded a rise in their floor price.
Pudgy Penguins’ floor price hit its all-time high in February this year at close to $60,000 from lows of $5,000 at the end of 2022.
With Thapliyal selling his Punk during a slump in the collectibles market, does it indicate that NFT investors expect the NFT winter to continue?
