In the wake of dipped purchases, CryptoPunks NFT was sold for $4.5 million and makes for a large sale

In the wake of dipped purchases, CryptoPunks NFT was sold for $4.5 million and makes for a large sal ...

NFT collectors are reportedly making lucrative purchases due to the slowdown of market momentum and lack of money. Numbered #2924, an NFT from the popular CryptoPunks series, was recently sold for a whopping ETH 3,300 or $4.5 million (about Rs. 36 crore)

The NFT number 2924 for CryptoPunks shows a pixalated, animated image of a brown ape with a grey shading.

The buyer''s identity remains unveiled, but it belongs to the wallet address 0x9045de, belonging to a pseudo-named seedphrase, according to the CryptoPunks website.

Punk 2924 was purchased for $34,451,633.94 USD by 0x9045de from 0x1da533. #cryptopunks #ethereum

Out of the 10,000 CryptoPunks NFT there are only 24 ape NFTs, including the number 2924.

This particular NFT is considered the 38th most elusive piece in the project, according to Rarity Tools.

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The CryptoPunks NFT collection was launched by the Larva Labs studio in June 2017. Since last year, celebrities like Jay-Z, Snoop Dogg, Odell Beckham Jr., and Serena Williams, among others, have held CryptoPunks NFTs.

The actual price floor of CryptoPunks, according to NFTPriceFloor, is ETH 65.9 or $88,414 (roughly Rs. 70 lakh).

In July this year, interest in NFTs saw a massive surge throughout the summer of 2021. After a year, the NFT market''s trading volume fell.

Due to the lowest trading volumes in a year, and the growing epidemic of NFT hackers, interest in NFTs has decreased as a result of the global cryptocurrency market.

According to statistics from leading NFT trading platforms such as OpenSea, trading volumes have fallen off a cliff in recent months and had reached their lowest levels around July 2021.

June saw the most significant decrease in the exchange''s history compared to previous months, as trading volumes increased by 74 percent to $826 million (roughly Rs. 6,600 crore). OpenSea has increased its profit margin by $456.9 million (roughly Rs. 3,600 crore).

According to a separate analysis by Be[In]Crypto, Solana''s NFT volumes have also dropped in June, with sales volume figures of $91.52 million (roughly Rs. 730 crore) in June, down by 64 percent from $261.07 million (roughly Rs. 2,100 crore) in May 2022.