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User earned $13 million from NFT

An unknown trader made more than $13 million by selling several items from an old NFT collection on Ethereum (ETH).

Broker Fountain spent one of the largest transactions involving non-fungible tokens (NFTs). The trader sold ten items from the Autoglyphs NFT collection and earned $13 million.

History of success

In February 2021, a user under the nickname OldSchoolCollection bought 10 NFTs from the Autoglyphs collection on the famous OpenSea marketplace. For this number of tokens, the trader paid about $1.4 million.

February 19th was a significant day for OldSchoolCollection. Through the Fountain brokerage platform, he sold the same 10 NFTs for 5,000 ETH, which at the current rate is about $14.5 million.

What are Autoglyphs

Autoglyphs (GLYPH) is one of the first generative art NFTs created by Larva Labs, known for developing CryptoPunks. The essence of Autoglyphs is that each token is generated by code on the Ethereum network.

Larva Labs launched a collection of 512 Autoglyphs in 2019 as part of a charity project. The initial token generation price was 0.2 ETH. The proceeds went to the environmental fund.

The main feature of the collection is that all Autoglyphs are on-chain tokens. All data needed to display them is stored on the Ethereum blockchain.

Ethereum NFT trading volume hits yearly high

According to The Block, in early February, NFT trading volume on the Ethereum network hit its highest level since March last year. At the end of the week from February 4 to 11, the figure amounted to $147 million. Over the past seven days, the figure exceeded $128 million.

Weekly trading volumes across different networks. Source: The Block

According to CryptoSlam, the most popular token in the blockchain of the second cryptocurrency remains Pandora (PANDORA). This is a project for a new token standard – ERC-404, launched at the beginning of the month and immediately attracted a lot of attention.

Additionally, there has been a buzz around the popular Pudgy Penguins (PPG) collection in recent days. Over the past 24 hours, the volume of token trading jumped by 115%. The decision of the Dymension project contributed to such positive dynamics. Pudgy Penguin holders were also able to apply for the distribution of DYM tokens.

Source: Cryptocurrency

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