According to reports, a CryptoPunk NFT sold for 24,000 ETH, equivalent to $56.3 million, making it the most expensive auction price in the history of the series.
The deal involving CryptoPunk 1563 immediately sparked interest throughout the digital collectibles community due to its record-breaking price.
However, there are concerns about the nature of the sale, with some experts suggesting it may not be a legitimate deal.
Source: CryptopunkCryptopunk Auction #1563
CryptoPunk 1563 is part of the original 10,000-piece NFT series created by Larva Labs in 2017.
On October 3, 2024, a transaction was recorded in which CryptoPunk 1563 was sold for 24,000 ETH (approximately $56.3 million). The buyer purchased the NFT from the seller, setting a new cryptopunk record for the highest selling price.
Despite the significance of this deal, CryptoPunk 1563 is still considered the “floor punk” of the series. This means that it lacks rarity or unique characteristics compared to other cypherpunks, which typically command a higher price due to their rarity.
Community concerns
Soon after news of the sale broke, blockchain analysts began questioning its legality.
On-chain data suggests the sale may have involved the use of a flash loan, an unsecured loan that is repaid within the same transaction. In this case, the buyer appears to have borrowed the $24,000 ETH required for the purchase and paid it back immediately, meaning no actual funds were exchanged between the buyer and seller other than network fees.
Flash loans have been used in the past to create artificial transactions in the NFT market. A similar incident occurred in 2021, when a CryptoPunk was “sold” for $532 million using the same method. The sale was later ignored by Larva Labs and major NFT platforms due to its illegal nature.
Some also suggested that this latest promotion could be part of a larger promotional strategy. According to blockchain researcher 0xQuit, the transaction may be related to the upcoming meme coin pre-sale, and CryptoPunk may have been used to draw attention to the token sale.
The exact details of the promotion are unclear, but the high-profile sale certainly attracted widespread attention.
