An anonymous NFT trader lost $10 million after selling Alien CryptoPunk #3100 for 4,000 ETH ($6.07M), a steep drop from its March 2022 sale of 4,500 ETH ($16M). The Alien Punk, one of only nine in the collection, ranks among the most valuable NFTs, but the broader market downturn has slashed prices. CryptoPunks’ floor price has fallen 43% in three months to $71,031, a far cry from its 2021 peak of $400K. Despite speculation about Yuga Labs selling the IP, co-founder Greg Solano confirmed no such plans. The sale underscores the risks in high-value NFT trading amid crypto volatility.
about NFT Trader Loses $10M on Rare Alien CryptoPunk SaleLarva Labs
0 in Finance and 0 in Crypto last weekCryptoPunk NFT Sells for $6M, Seller Takes $10M Loss
CryptoPunk #3100, a rare Alien Punk NFT with a headband, sold for 4,000 ETH ($6.07M) in a private deal, marking a $10M loss for the seller who initially bought it for 4,500 ETH ($16M) in March 2024. The transaction, facilitated by Fountain, highlights the volatility in NFT valuations amid Ethereum’s 57% price drop over the past year. The buyer’s wallet was funded via Coinbase Prime 2, though identities remain undisclosed. Despite being a top-tier NFT collection, CryptoPunks’ floor price has fallen 44% in 90 days, reflecting broader market downturns since its 2021 peak under Larva Labs (now owned by Yuga Labs).
about CryptoPunk NFT Sells for $6M, Seller Takes $10M LossYuga Labs Faces Backlash as CryptoPunks IP Sale Rumors Circulate
Yuga Labs faced backlash over rumors of a potential sale of the CryptoPunks IP, with co-founder Greg Solano stating they would not engage in any deal that could harm its legacy. Meanwhile, digital art platform MakersPlace announced its closure due to ongoing market challenges, allowing users until June 2025 to offload assets. In contrast, the NFT collection Mad Lads surged in value as Solana reached a new all-time high, while Ronin Network launched a $10 million grant program to support developers and expand its ecosystem.
about Yuga Labs Faces Backlash as CryptoPunks IP Sale Rumors Circulate