CryptoPunk NFT Purchased for $16M Sold at $10M Loss
NFTs, once a popular use case for cryptocurrencies, have largely lost interest among investors, with some owners willing to take significant losses.
Author: Shaurya Malwa | Edited by: Parikshit Mishra Updated: April 11, 2025, 02:37 PM Published: April 11, 2025, 06:45 AM
Key points:
- CryptoPunks, once a symbol of NFT prestige, hit a record $56 million in sales in 2024, but recent deals show a waning interest in the market.
- The third largest NFT sale, CryptoPunk #3100, recently sold for 4,000 ETH, marking a significant loss from its previous price.
- Despite the decline in NFT trading volumes, rare CryptoPunks like #3100 continue to command high prices due to their uniqueness and rarity.
Remember the days when cryptopunks were real stars?
The 10,000 avatars released by Larva Labs in 2017 have become some of the most sought-after items on the non-fungible token (NFT) market in 2021, with some NFTs from this collection reaching up to $56 million in Ether (ETH) on the open market in 2024.
The five most valuable NFTs belong to the CryptoPunk collection, according to NFT analytics resource CryptoSlam. However, it appears that owners are starting to withdraw their funds.
The wallet associated with CryptoPunks #3100, the third-largest NFT sale in history, sold its collectible on Friday for 4,000 ETH — a drop of 500 ETH, or more than $10 million in dollar terms, given that ETH's value has fallen nearly 60% over the past year.
Punk 3100 was purchased for 4,000 ETH ($6,084,359.86) by 0x074ad7 from 0x705876. https://t.co/YMzLi5i8se #cryptopunks #ethereum pic.twitter.com/2dsOqsjAc0
— CryptoPunks Bot (@cryptopunksbot) April 10, 2025
That's still a relatively high price for a CryptoPunk compared to the collection's minimum price of 42 ETH, or about $65,000, according to CoinGecko. #3100's price is due to its rarity: it was an “alien” (9 out of 9,985 punks) and wore a headband (406 out of 9,742 punks).
NFT trading volumes have been generally declining since 2021, with the exception of some spikes during periods of hype. Total sales have fallen to just over $58 million as of April 7, back to levels seen earlier in 2021.
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