Tuesday, February 8th, 2022
Remember: Sotheby’s gets a 5% commission (or more?). Do the math. The 104 punks lot’s estimated about US$ 20 to 30 million.
What’s your take on Sotheby’s Punk It! Auction - 104 CryptoPunks [V2] in 1 Lot? Is this the top of the (crypto) punk madness? Are insiders cashing in on the con-art fraud before the (punk) bubble bursts?
Update
Laughing my ass off (LMAO) at “elevate punks in the international art community” rather than “trying to dump my bags without causing [minimum] floor [price for a punk] to drop below where I bought in”.
You’re selling 104/104 punks [v2] you bought only six months ago because you believe they’re a top long term digital asset? Doesn’t quite add up.
Crypto Bro with the pseudonym 0x650d writes:
Today, I’m excited to announce my partnership with Sotheby’s to create the highest profile [non-fungible] token sale of all time.
The 104 punks I purchased in August last year [in 2021 in a single “sweep” for about ~US$ 7million¹] will be auctioned live, giving the crypto and broader [non-fungible] token community the opportunity to attend and participate in the auction.
So why am I auctioning my punks?
My original thesis was simple: As the global demand for scarce assets in an increasingly digitized world increases, punks [v2] will be one of the largest benefactors.
I still believe this.
Since I swept the punks floor six months ago, [non-fungible] tokens as a category have exploded in popularity, with mainstream brands including Adidas and Nike collaborating with some of the most popular collections today. A trend I only expect to continue.
However, punks will always be the original inspiration for the ethereum [non-fungible] token standard that set the stage for every blue chip collection created since then.
Punks have appeared previously in art auction venues, but never with the same weight, prominence, or attention as “traditional” contemporary pieces.
This live, single-lot evening auction represents a chance to showcase punks on the same level as some of the most significant and high-profile sales of Contemporary and Modern Art in history.
I simply could not pass up the opportunity to elevate punks in the international art community. And with this sale, the punk [v2] collection will be solidified in the broader art world.
What’s your take? Paper hands?
This you?
July 31, 2021:
What’s the plan? 0x650d: You’ll see in time. Never selling.
PS: Free Tip: Generate yourself a lot of 10 000. See Punks - The Free White Label Quick Starter Edition.
Note ¹: At the beginning of August 2021, it was reported that a buyer purchase over 100 punks [V2]. According to the reports, the anonymous investor tried not the attract too much attention and used the decentralized block production protocol MiningDAO.
Therefore, he bride a miner to include all the punk purchases on a single ethereum block. The trade was well planned and calculated, as a community member reported. Previously, the anonymous buyer made a smaller purchase at the height of block #12924823, etherscan recorded.
Usually, to buy one of these [non-fungible] tokens, a user executes a “normal” ethereum transaction. The anonymous buyer tried to mitigate a reaction from the market. Thus, why they operated under the radar.
In total, the punks, some of the cheapest in the collection amounted to a staggering $7 million.
(Source: How An Anonymous Buyer Acquired 104 CryptoPunks For $7 Million In A Single Ethereum Block, August 2021)
Post them on the CryptoPunksDev reddit. Thanks.