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.
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.
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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.