Today’s news from NFT includes a fascinating development. A CryptoPunk NFT, worth more than $69,000, was sold for less than a cent. This was a very costly error.
The co-founder of DeFi platform Float Capital, Jonathan Clark, claims that the owner planned to sell the Punk for under a dollar in a safe listed sale. But unfortunately, the owner made it available on an open market. The Punk could have been snapped up by anyone who had been watching the market.
But This case is different. Blockchain data shows that the buyer spent 22 ETH ($57,000) to bribe an Ethereum miner to include their transaction in a block. They used the communication protocol Flashbots to do this. This protocol is widely used to extract MEV.
The CryptoPunks collection of 10,000 NFT features pixelated faces from humans, aliens, apes, and zombies. Punk 3860 was the CryptoPunk. He was a male Punk wearing a cigarette and oversized shades. He also had a dark beard, shadow beard, and a mohawk. It was last purchased for $693,369 on July 29.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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