On the night of October 29, the collection token (NFT) CryptoPunk # 9998 was sold for a record $ 532 million. As it turned out, the deal was fictitious – the owner sold the token to himself.
The NFT owner took an instant loan for 124,457 ETH and bought the token is in itself. Such actions can be associated with money laundering, and this is a very possible option. However, transactions of this size attract unnecessary attention, which criminals try to avoid in any way.
Most likely, the owner of CryptoPunk # 9998 just decided to add “hype” to an already highly promoted sphere and make huge profits. Perhaps, in this way, he hoped to further raise prices in the market by putting NFT up for sale for 250,000 ETH ($ 1.07 billion). This NFT was purchased in August for 110 ETH.
The transaction attracted considerable attention, because previously the value of tokens from the CryptoPunks collection did not exceed $ 10 million.For example, recently one of the holders of the rare token CryptoPunk # 6046 refused to sell it for $ 9.5 million.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.