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Saturday, June 25, 2022

CryptoPunks News: Anonymous Seller ‘Rugs’ Sotheby’s Auction By $30M

An anonymous buyer of CryptoPunks’ collection backed out minutes before the auction was all set to go live. This buyer went for a 104 Crypto Punks collection whose net worth is estimated to be around $30 million. This action by the NFT collector was believed to be executed as he wanted to make fun of this luxury art auction.

This action has confused a lot of fine arts enthusiasts and NFT collectors as the buyer canceled at the last moment. This historical event was hosted by Sotheby’s, a renowned fine art auctioneer, and he was looking forward to it as it would have been the largest NFT auction in history.

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Though the reasons behind such action are still unclear, the buyer reacted by sharing a meme and post after the event’s cancellation. The buyer goes by ‘0x650d’ on Twitter and makes a series of jokes after the cancellation. He even suggested with a meme that he was trying to rug Sotheby’s by, of course, not illegally stripping them of money but just giving them a feeling of it. 

CryptoPunks Are An Essential Part In Modern Days

A researcher known as Haralobos Voulgaris called the buyer a ‘clown’. The industry of NFT is growing gradually in 2021 after the creation of CryptoPunks by Larva Labs. This again has helped the market generate a sale of approximately $2 billion. The mentioned auction house has the new objective to capitalize the NFT market, which is very lucrative by selling $100 million in the last year, where nearly $24 million was sold in one auction.

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