Cryptopunk #4156 NFT sells for $3.3 million, which makes it the 4th largest sale of this collection. However, the seller took a $7 million loss if you consider it in terms of the dollar value of the sale. If you take a look at this transaction, the current buyer paid 2,691 Ethereum for it. However, the seller bought it for nearly 2500 Ethereum. So, from that perspective, it was a profit for the buyer.
The recent sale of Cryptopunk #4156
The seller of the cryptopunk will save a lot when he files his taxes because of the loss he took while making the sale. But overall, the Ethereum holdings of the seller have increased by around 10%. Now, let’s do some calculations. Ethereum’s price at its peak was $4,871, and if we multiply that by 2,691, the total value of this sale is around $13.1 million. So, the seller just has to wait around for a few years before he makes his money back. However, that wait is not for nothing, as the seller will be able to save taxes.
Talking about the buyer, it was purchased by 1confirmation, who tweeted about the same. They have recently announced a $100 million fund that will invest in NFTs. This shows that even large companies are interested in the project and believe there is a future for it.
About Cryptopunks
It is an NFT collection that is based on Ethereum and was launched by Larva Labs in 2017. At the time, it was just Matt Hall and John Watkinson, two software engineers on the team. It is said that they were inspired by Daft punk, the cyberpunk movement, and London Punk scenes to make the designs.
There are only 24 Cryptopunks in a special collection, making it a blue chip among the total 10000 crypto punks out there, and Cryptopunk #4156 is one of them, making it very rare. It is also very sought after, making it more valuable in the eyes of a collector. After the sale happened, the owner of Cryptopunk #3938 tweeted that he thinks that it is worth more than $25 million.
What are your thoughts as Cryptopunk #4156 NFT sells for $3.3 million? And do you think this sale was made at a loss intentionally to save taxes? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Stablecoin USDC is now totally backed by cash and US Treasuries.
