Today, CryptoPunks #273 NFT sold at a massive loss of 210 ETH. To clarify, somebody bought the digital asset with just 55 ETH (about 125K). In fact, the last ten CryptoPunks NFT sales prior to this one were also sold at a loss.
How was the CryptoPunk NFT sold at a loss?
The series of CryptoPunks NFTs sold at a loss continues – this time with CryptoPunk #273. Accordingly, the price of the digital asset was 55 ETH. Back in October 2021, the former holder bought the NFT for 265 ETH. Basically, this means the collector sold his CryptoPunk NFT 80% cheaper!
Surprisingly, the collectible features several rare traits too. For example, the avatar NFT has big shades and a cap forward. Less than 5% of all CryptoPunks collectibles share those traits!
What’s more, this is just one of the many CryptoPunks sold at a loss recently. In fact, the last 10 Punks sold prior to #273 had the same faith – but why?
Are CryptoPunks NFTs going down?
CryptoPunks is undoubtedly among the most popular NFT collections of all time. Its popularity increased even more after Yuga Labs purchased the project. Part of the reason is that the company offered full commercial rights to all CryptoPunks NFT holders.
Some NFTs (such as CryptoPunk #273) were sold at a loss this month indeed. However, it’s still in the top 20 NFT collections listed by trading sales volume.
Furthermore, the most expensive CryptoPunks NFT ever was sold in February 2022! The rare digital asset scored a whopping 8,000 ETH (about $23M).
All in all, CryptoPunks NFTs are still valuable. The project even continues to make waves among giant real-life brands. For instance, Tiffany & Co. jeweler Alexandre Arnault recreated his CryptoPunk #3167 as a piece of jewelry. Accordingly, the creation includes yellow diamonds, Sapphire, and Mozambique baguette Ruby glasses.
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This article is educational material.
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