An ardent non-fungible token (NFT) collector and ethereum (ETH) user made history by paying USD 23 million for a CryptoPunk token, the most fee ever paid for an item in the so-called “OG” collection.
On Saturday, the item, CryptoPunk #5822, was sold to Deepak Thapliyal, the CEO of Chain, a blockchain startup. Thapliyal revealed on Twitter that he paid for the transaction with Compound Finance (COMP) leverage, leaving him “HODLing” ETH tokens.
Thapliyal appears to have spent slightly more than the token is currently worth (USD 7.54m), according to DappRadar figures, but the item’s rarity – and the collection’s continued popularity – might easily enhance its value at a later date.
CryptoPunks, according to the same company, “was launched before there was a standard for NFTs (ERC-721).”
Thapliyal’s rapidly expanding NFT collection now includes a number of high-value tokens, including many Bored Ape releases (the most expensive of which is presently worth an estimated USD 1.29), Wrapped CryptoPunks, Adidas Originals NFTs, and metaverse virtual world plots of land.
He also has more than USD 72 million in cryptoassets and stablecoins, as well as decentralised financing (DeFi) activities, including USD 25 million in DeFi debt with Compound.
According to CryptoSlam data, CryptoPunks selling activity is somewhat modest compared to many younger collections, but when rare CryptoPunk NFTs do change hands, they tend to do so for similarly exorbitant prices.
On February 9, a cowboy hat-wearing monkey sculpture sold for a cool USD 7.7 million in ETH, according to OpenSea data.
However, piece #5822 is one of the most sought-after CryptoPunk figures, as his pale blue complexion denotes that he is a “alien,” a trait shared by only 0.02 percent of the total collection. He also wears a bandana, which is worn by only 5% of punks worldwide. In 2017, however, he was only able to sell for ETH 8. (USD 1,646).
Larva Labs Studios designed the CryptoPunks collection, which was released in mid-2017. The company produced 10,000 NFTs, and the collection made history last year when CrytoPunks artefacts were auctioned at a Sotheby’s auction.
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