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CryptoPunk’s NFT Sells for Half a Billion Dollars, Causes Uproar -Breaking

by Mike Robinson

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CryptoPunk’s NFT Sells for Half a Billion Dollars, Causes Uproar
  • CryptoPunk 9998 goes on sale for 124.457.07 EETH (530 Million).
  • This sale could be the biggest NFT acquisition in human history.
  • Some believe it’s a publicity stunt.

Digital art can be as precious as traditional physical arts. It has also become an unusual social symbol. Recently, Crypto Twitter (NYSE:) was sent into a frenzy as a CryptoPunk non-fungible token (NFT) ‘9998’ was purchased for 124,457.07 ETH.

It is worth a staggering half-billion dollars (or $530 million) when converted into fiat currency. This sale could be one of the most significant involving crypto tokens in history. Many commenters who follow this tweet express doubts about the sale.

However, some NFT collectors were quick to point out that the sale could be a ‘fat finger,’ a term that refers to an irreversible click on a product by mistake, most common in the world of trading.

Lark Davis, an acclaimed crypto analyst, called the purchase money laundering. Another hilariously said that ‘the most expensive property in the United States costs less than $530 million’. Some others noted it was a publicity stunt. Others claimed that NFT had been transferred to its original owner following the announcement.

CryptoPunks sell at a minimum of 100 Ethereum, but the number in question #9998, is not able to attract such large sales. The purchase was surrounded by many suspicions.

A Twitter bot who monitors CryptoPunks sales first saw the transaction. The transaction was done using a flash loan contract. A similar flash loan transaction was used to purchase a HashMask NFT for 139,000 ETH, making it the highest NFT sale ever — albeit on a technicality.

A purchase of this nature would have to be made if the auction for 124,457.07 Ethereum was held. It is far more than the sale in March of 4,200ETH of an extremely rare extraterrestrial punch.

CryptoPunks is a unique token. It was the first NFT (non-fungible token) to be published on blockchain. Larva Labs was the American studio that created CryptoPunks. It is comprised of Matt Hall (Canadian software developer) and John Watkinson (American computer programmer).

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