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$850,000 CryptoPunk NFT Mistakenly Sold for Less than $20,000

$850,000 CryptoPunk NFT Mistakenly Sold for Less than $20,000

One of the most expensive NFTS, CryptoPunk, was sold in error for less than its original price.

It was a fortunate day for one trader as he obtained a famous NFT for a way cheaper price than the NFT was intended to sell. 

CryptoPunk 7557, an NFT worth at least $850,00, was sold for 4.444 ETH (about $19,400) yesterday. 

A “tiara” CryptoPunk 7557 is a rare NFT, there are only 55 of the like. In the most recent auction of NFTs with a tiara, one of them sold for roughly 197 ETH ($843,000).  

The most inexpensive “Tiara Punk” will have a value of 350 ETH that translates to $1.5 million, as reported by Larva Labs, the CryptoPunk team. 

Judging from these prices, the only explanation for this extremely low price of the CryptoPunk was that the seller made an error. 

The history of the asset’s price shows that the former NFT owner had listed it for 8,888 ETH. Afterward, it was mistakenly listed for 4,444 ETH

The seller probably had a higher price in mind for listing, instead of the one that actually was seen as the final value. 

A recorded ‘bribe’ was another thing to note during this transaction. The trader paid extra in order to have the transaction done as fast as possible. The buyer gave 3.33 ETH to the miner to make sure that he can buy the NFT in record time. 

This aroused many reactions from the crypto enthusiasts, some of them considering this purchase as a gift. The seller did not gain anything from this transaction, instead, it lost over $100,000 on the sale because of the low price, according to another crypto community member. 

Last week also marked another interesting NFT transaction as a CryptoPunk was sold more than $500 million.  

Also Read: Visa Enters NFT Commerce Through CryptoPunk Acquisition

 

Also read:

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