The most expensive CryptoPunk ever sold, CryptoPunk #5822, has been resold by owner Deepak Thapliyal, CEO of web3 infrastructure company Chain, for an undisclosed amount.
One of 9 so-called ‘Alien Punks’ from the CryptoPunks NFT collection – the #1 NFT collection by floor price – this NFT was purchased by Thapliyal in February 2022 for 8,000 ETH, equivalent to almost $24 million USD.
Although the buyer and the fee for Thapliyal’s sale of CryptoPunk #5822 are unknown, due to the discreet nature of the sale amidst a wider decline in the floor price of NFTs, it is speculated that Thapliyal has sold CryptoPunk #5822 at a sizeable loss.
What are CryptoPunks NFTs?
Launched in June 2017 by Larva Labs, CryptoPunks was one of the first NFT collections to be launched on the Ethereum blockchain. Across 2021 and 2022, they were purchased by a flurry of A-list celebrities – such as Jay-Z, Serena Williams and Steve Aoki.
Despite a considerable decline from their all-time high prices, CryptoPunks are still the most expensive NFT collection by floor price. Its nearest rivals, such as Bored Ape Yacht Club and Pudgy Penguins, are dwarfed in comparison, with the market cap of CryptoPunks currently sitting at over $750 million USD.
In March 2022, CryptoPunks and Meebits – two NFT collections created by Larva Labs – were purchased by Bored Ape Yacht Club creators Yuga Labs for an undisclosed fee.
Details of the most expensive NFT sale
Little is known about the recent sale of CryptoPunk #5822.
On August 19, Thapliyal announced the sale on X. Blockchain records show that the NFT was indeed transferred on that day, although it is unknown when the deal was agreed, who was involved, or how much was paid.
At the time Thapliyal purchased CryptoPunk #5822 in February 2022, the floor price sat at around $200,000 USD. At the time of writing, the floor price of CryptoPunks is 29.45 ETH – roughly $76,000 USD.
Interest in CryptoPunks has cooled in 2024. Michael Bouhanna, Head of Digital Art at Sotheby’s, stated that reserve prices for two CryptoPunks in the ongoing Sotheby’s Digital Art Day Sale had to be lowered from $60,000 USD to $45,000 USD due to a lack of bidder interest.
Bullish on web3. Competitive soul.