An anonymous investor purchases 88 rare Non-Fungible token CryptoPunks in one incredible $5.5M foray, firing them into the top 20 CryptoPunk investors.
Who Is The Buyer and Has NFT Market Reacted?
The purchase went through on July 31st, and although it was initially kept under wraps, the scale of the transaction did go on to have a considerable impact.
The buyer has created a Twitter account and signed a transaction to unveil himself as the owner of the address behind the huge purchase. Since creating the social media account the apparent buyer seems content to respond to various tweets citing his purchase with affirmative responses.
We’ve looked to acquire a little more information through their wallet history but have found that all purchases have been ‘force funded.’ This means the wallet was specifically created for the transaction, leaving no prior history or trace.
Their readiness to now reveal themselves as the buyer was at odds with the process of their purchase. Using MiningDao, whose services enable communication with the relevant miner and ensure that the transaction is kept on the block without being broadcast to the network first, the buyer avoided an immediate market response.
Sellers were initially unaware of the huge purchase and thus there was no immediate and predictable price hike. When the news did eventually spill CryptoPunks began to steadily move up NFT rankings based on sales volume collected from Crypto Slam.
What Are CryptoPunks?
Trendsetters and one of the very first constructed NFT collections, CryptoPunks are 10,000 unique collectable characters. The figures, ranging from humans, zombies, apes and aliens, are stored on the Ethereum blockchain.
Crypto Punks has gone on to inspire NFTs across all chains. There are even direct rifts on competing chains such as Solana and Binance Smart Chain – SolPunks and Bunks.
With mentions in a host of hugely influential media like CNBC, The Financial Times, Bloomberg, The Paris Review, and The New York Times both in 2018 and 2021, CryptoPunks have established a reputation.
Even with the recent upswing, the market for CryptoPunks shows no sign of slowing down as the CryptoPunks market has an open bid of 14,000,000 according to LarvaLabs market data.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
