CandleFocus CryptoPunks NFT Worth $1.5 Million Just Sold for $23,000—Here's How
2024-09-12
Author: Content Editor
A rare CryptoPunk NFT featuring an ape recently sold for nearly $1.5 million. The NFT, which was one of only 24 in the collection to depict an ape, had been fractionalized into 10,000 shares on the Niftex platform. However, after the platform shut down, the fractionalized NFTs were essentially stuck in limbo. An unknown buyer triggered a buyout feature on the smart contract and was able to acquire the NFT for a fraction of its current value. It is now listed for sale and has already received a bid of 600 ETH, potentially offering a 60x return on investment. The purchase has been described as a "heist" but has also been seen as part of the decentralized nature of NFT trading.
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