In what would rank as one of the crucial costly gross sales within the historical past of NFTs, a CryptoPunk NFT has simply been offered for over $500 million, although analysts have begun to lift questions concerning the legitimacy of the sale.
CryptoPunk 9998 offered for over $500 million
In line with the CryptoPunk gross sales feed, the mentioned NFT CryptoPunk #9998 was offered for $532 million, which suggests it’s the most costly sale within the historical past of Cryptopunks.
Whereas that is presupposed to be celebrated, the crypto neighborhood has met the weird transaction with doubt, speculating that there could possibly be a sort of manipulation within the sale.
Members of the neighborhood have identified that the brand new purchaser and the earlier holder could possibly be the identical particular person as a result of the CryptoPunk NFT was offered again to the unique deal with that was holding it beforehand.
One other college of thought believes that the acquisition might have been made by way of a flash mortgage. If this was the case, it means the sale of the NFT may need been reversed.
An identical case had occurred earlier within the yr when this methodology was used to buy an NFT which left the holder with an intangible quantity of the gross sales value.
Crypto neighborhood reacts
With the intention of the customer and holder unclear, some have speculated that this might simply be somebody having enjoyable.
You possibly can borrow so long as you assure to pay it again inside the similar transaction. This individual borrowed 500M DAI and a ton of ETH after which paid it again whereas concurrently buying the crypto punk.
— Buzz (@buzz_strong) October 29, 2021
Buzz, in attempting to rationalize the sale, said that it was a flash mortgage. In line with him, “This individual borrowed 500M DAI and a ton of ETH after which paid it again whereas concurrently buying the crypto punk.”
The view of Buzz was additionally shared by @nanexcool who defined the sale as a flash mortgage.
That is so good
– Flash mortgage as a lot as you may
– Record your punk for an insane quantity of $ETH
– Purchase it
– Different account provides you the ETH again
– Repayhttps://t.co/nlo24twyEx https://t.co/7CLhYAHKb8
— mariano.eth ᕙ༼༽ᕗ | 🦇 (@nanexcool) October 28, 2021
Nevertheless, standard Twitter consumer David Lark doesn’t share the view. In line with him, it’s a case of cash laundering as he tweeted “Now that’s cash laundering.”
Get an edge on the cryptoasset market
Entry extra crypto insights and context in each article as a paid member of CryptoSlate Edge.
Be part of now for $19/month Discover all benefitsPosted In: Ethereum, NFTs
Like what you see? Subscribe for updates.