Lot of 104 CryptoPunks Was Pulled Out Just Before The Auction
A lot of 104 CryptoPunks that expected to be sold for $30 million was withdrawn just minutes before the much-anticipated auction at Sotheby’s.
According to Sotheby’s representative, the seller decided to withdraw the lot from the auction that was announced earlier this month.
The lot titled “Punk It!,” was first acquired by collector “0x650d” in July last year through a single $7 million transaction.
The collector tweeted about the change of mind:
A contributing factor to 0x650d’s reversal were rumors of a sluggish reception for the CryptoPunks mega-lot. According to three sources, including one bidder on-site at Sotheby’s that the highest pre-bid offer was $14 million, which was also the reserve price.
CryptoPunks, created by Larva Labs in 2017, has generated over 683,000 ETH in sales volume, roughly $2 billion at current ETH value. The project currently boasts a floor price of 67.5 ETH ($207,000).
This was supposed to be the second time Sotheby’s has facilitated the sale of a major NFT lot, with the first being a $24.4 million collection of 101 Bored Apes sold in September. Rapper Ja Rule was among those in attendance at the New York auction house.
