CryptoPunks NFT Worth $1.5 Million Just Sold for $23,000—Here's How
"Heist" or just a brilliant play? CryptoPunk #2386 sold for a fraction of its market value thanks to a smart contract and an unexpected move.
By Jason Nelson
Sep 12, 2024
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4 min read
Punk #2386. Image: Yuga Labs
Punk #2386. Image: Yuga Labs
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The immutable nature of the blockchain was put in stark relief on Wednesday when CryptoPunk #2386, which is valued around 600 ETH (about $1.5 million), was acquired for a fraction of that price at 10 ETH (or just over $23,000)—after being locked up and overlooked thanks to a now-defunct website.

CryptoPunks are some of the most valuable Ethereum NFTs around, even years after the market boom. This particular Punk was especially prized, as out of the total collection of 10,000 profile pics, it was one of only 24 that depicted an ape—an animal beloved across the NFT space. One of these rare variants just sold for nearly $1.5 million …