CryptoPunk #5822 – the most expensive CryptoPunk ever sold – has been resold by its owner Deepak Thapliyal, CEO of web3 infrastructure company Chain, for an undisclosed amount.
This ultra-rare NFT, 1 of 9 so-called ‘Alien Punks’ from the 10,000-strong CryptoPunks NFT collection – the #1 NFT collection by floor price – was bought by Thapliyal for 8,000 ETH in February 2022, equivalent to almost $24 million USD.
Although both the buyer and the price Thapliyal sold CryptoPunk #5822 for are unknown, it is speculated that due to the decline in NFT floor prices across the board, and the discreet nature of this sale, the NFT was sold at a considerable loss.
What are CryptoPunks?
Launched in 2017 by Larva Labs, CryptoPunks was one of the first NFT collections to be launched on the Ethereum blockchain – and during the NFT boom of 2021, they were sported by A-list celebrities like Jay-Z, Serena Williams and Steve Aoki.
Despite prices falling from their all-time highs, CryptoPunks are still the most expensive NFT collection by floor price, with its closest rivals such as Bored Ape Yacht Club and Pudgy Penguins only enjoying a fraction of CryptoPunks’ market cap.
In March 2022, both the CryptoPunks and Meebits NFT collections – another Larva Labs creation – were purchased by Bored Ape Yacht Club creators Yuga Labs for an undisclosed fee.
What do we know about the sale?
Few details are known about the recent sale of CryptoPunk #5822.
On August 19, Thapliyal announced the sale on X – and although data shows that the NFT was transferred to another wallet on that day, it is unknown when exactly the deal was agreed, who was involved, or how much it was for.
At the time Thapliyal purchased CryptoPunk #5822, the floor price sat at roughly $200,000 USD. At the time of writing, the current floor price of CryptoPunks is 29.45 ETH (roughly $76,000 USD).
Interest in CryptoPunks has noticeably cooled in recent months. Michael Bouhanna, Head of Digital Art at Sotheby’s, confirmed that reserve prices for two CryptoPunks in the auction house’s ongoing Digital Art Day Sale had been lowered from $60,000 USD to $45,000 USD due to low bidder interest.
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