A CryptoPunks NFT recently sold for $6 million, which marks a significant $10 million loss for the previous owner who bought it for $16 million just a year prior. The NFT in question, CryptoPunk 3100, is one of the Alien Punks and was sold for 4,000 ETH via a private offer on the CryptoPunks marketplace. This sale, facilitated by the crypto art brokerage Fountain, created a stark contrast to its former valuation amidst a broader decline in Ethereum's value, which has decreased by 57% over the past year. The anonymous seller initially listed it for 4,500 ETH but ultimately lost 500 ETH on the sale, translating into the substantial financial loss. Meanwhile, CryptoPunk 3100 has seen several significant sales, holding the record for the third largest all-time, yet the overall financial performance of the CryptoPunks collection has diminished as its floor price dropped by 44% in the past three months to approximately $64,727. Despite its status as a premier profile picture NFT collection, its declining market value highlights the volatility and challenges in the NFT space.

Source 🔗