Most Expensive CryptoPunk #5822 Sold, Price Unknown

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Sale of Rare NFT
  2. Market Speculations
  3. Sotheby’s Auction


    4. CryptoPunk #5822, the most expensive piece from the CryptoPunks NFT collection, has changed hands, though the price remains a mystery.

    Sale of Rare NFT

    NFT enthusiast Deepak Thapliyal acquired CryptoPunk #5822 in 2022 for 8,000 Ether (ETH), equivalent to $23.7 million at the time. The alien punk wearing a bandana set a record as the highest bid for a CryptoPunk NFT and the fourth priciest NFT sale ever. On August 19, Thapliyal announced on X that he was bidding farewell to CryptoPunk #5822, sending it to an unlabelled wallet. Despite his heartfelt farewell, the sale price of the NFT was not disclosed.

    Market Speculations

    Given the current downturn in the NFT market, with a 45% drop in sales volume in Q2 2024 and July’s lowest monthly sales since November 2023, the assumptions might hold water. The only alien Punk listed on the CryptoPunks site is priced at 5,000 ETH ($13.36 million), suggesting CryptoPunk #5822 might have been sold at a significantly lower price. If true, this would represent a 43.6% loss for Thapliyal.

    Sotheby’s Auction

    An auction held by Sotheby’s on August 15 to highlight blue-chip digital art attracted only one bid for a CryptoPunk, significantly below Sotheby’s estimated value of $70,000 to $100,000. This underscores the challenges faced by digital collectibles in today’s economic climate.

    As the NFT market continues to struggle, the fate of CryptoPunk #5822 and the tepid auction results underscore the challenges faced by digital collectibles in today’s economic climate.

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