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- CryptoPunks, one of the pioneers in the industry is being sold for millions of dollars
- On Friday, one of the 10k punks was sold for staggering half a million-dollar
- Analysts note that the piece lacks some desirable features from a buyers perspective
- The purchase was made through a flash loan contract
CryptoPunks NFTs are one of the pioneers in the Non-Fungible Token (NFT) industry. Established in 2017, as ERC-721 standard tokens, this crypto had no value. However, recently, since last year, the craze for such tokens has just boomed. Recently, one of the 10k CryptoPunks has been sold for more than half a million dollars. The staggering figure has made the sale one of the largest ever in industry and history. However, following the scenario, on-chain analysts began to point to the sale as an elaborate publicity stunt. Still, if the sale is real, the 124,457.07 Ethereum worth sale of an NFT would have eclipsed the 4.2k ETH worth sale of an alien punk in March.
CryptoPunks flagged the transaction on Friday
CryptoPunks NFTs are being tracked through Twitter bots. On Friday, a bot tracked the sales of one of the most unique CryptoPunks for a twinkling half a million dollars. A bot that tracked the sales first flagged the enthusiasts shortly before 08:00 p.m. ET on the day. However, it is noteworthy that the NFTs collection has enthusiasts, or the lowest price at which a piece can be bought is 100 ETH.
The art piece lacks desirable features
The punk #9998, was lacking some desirable features from an enthusiasts perspective. Hence, following the aforementioned factor, it is believed that the purchase is a fat finger. Indeed, the transaction has an immutable, irreversible error endemic in the network. Observing the chain, analysts deemed that the transaction is just a clever bit of smart contract magic.
How was the purchase made?
On Friday, the purchase of the CryptoPunks NFT was made via a flash loan contract. Indeed, the smart contract was deployed by an address that was flagged by a wallet profiler Nansen. The wallet user was a prolific decentralized finance user, a Non-Fungible Tokens collector, and a smart contract deployer. It is also considered that the purchase was likely conducted solely “for the bantz”.
