Deepak Thapliyal Resells His CryptoPunk NFT to Undisclosed Buyer
On Tuesday, the most costly CryptoPunk in NFT history was resold amid a price downturn. CryptoPunk #5822, bought for $24 million by NFT fanatic Deepak Thapliyal in early 2022, was sold at an undisclosed sum.
Delivering the news on X, Thapliyal failed to mention the buyer of his NFT. Popular on-chain analytics firm LookOnChain confirmed that CryptoPunk #5822 had been transferred from Thapliyal’s wallet to an address that only had the NFT.
CryptoPunks’ Price Floor drops significantly
The NFT sale comes when non-fungible tokens, even those that were once highly valuable, like CryptoPunks, are dropping to levels not witnessed since 2021.
At the time Thapliyal purchased his NFT, the cheapest CryptoPunk was going for $210,000. Today, the price floor for the CryptoPunk collection, which features 10,000 unique NFTs, has dropped to $59,130 per data on the NFT Price Floor platform. It is worth mentioning that the price floor for CryptoPunks dropped to $43,800 at the start of the month.
CryptoPunks previously enjoyed massive attention from celebrities before the current price downturn. Several well-known American personalities announced buying the NFTs in 2021. Among them were rapper Jay Z, who bought CryptoPunk for 55 ETH in April 2021; singer Jason Derulo, who purchased his in June 2021; and DJ Steve Aoki, who acquired CryptoPunk #6473 the following month.
CryptoPunks Fail to Attract Buyers
However, it appears that CryptoPunks are no longer as attractive as before based on the recent incident where two CryptoPunk NFTs failed to attract bids on the Sotheby’s platform over the weekend. On Monday, crypto enthusiast Michael Bouhanna shared a screenshot on X, showing that investors were unwilling to pay the $60,000 asking price to purchase any of the two CryptoPunks.
At the time of publishing this article, the asking price is down to $45,000, but still, no bids have been placed.
Despite the current price drops, some NFT collections have continued to attract investor interest. For instance, the price floor for Alien Punks rose to $12 million in April, with the most expensive NFT in that collection changing hands for $16.4 million.
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