CryptoPunk worth $850,000 sells for just a fraction of its price

CryptoPunk 7557 was sold for 4.444 ETH ($19,400) earlier today, a sale that was 95% below the current floor price and just a fraction of what the specific NFT was worth.

The CryptoPunk in question was one of just 55 NFTs in the collection that sports a tiara. According to CryptoPunk creator Larva Labs, the cheapest “Tiara Punk” is priced at 350 ETH ($1.5 million). The last sale of a CryptoPunk with a tiara was for 196.69 ETH ($843,000).

The listing of this Punk at this price may have been a big mistake. According to the listing history, the previous owner last put it up for sale for 8,888 ETH ($31 million). This suggests they may have been trying to sell it for 4,444 ETH ($19 million) instead of 4.444 ETH — note the comma instead of the period.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy