A CryptoPunk non-fungible token (NFT) recently sold for such a loss at $10 million. This dramatic sale further highlights the volatile nature of the digital asset market. The NFT market has been in a steady downward spiral since its height in 2021. This incident is a particularly harsh reminder of...
The non-fungible token (NFT) market has crashed, with two-thirds of marketplaces’ transactions denominated in Ethereum dropping below $20. Formerly treasured CryptoPunk NFTs are now hitting the market at 99% off. NFTs that once sold for more than $1 million dollars can now be picked up for as low as $65,000....
Yes, the headlines are brutal. CryptoPunk #3100, once a $10 million NFT marvel, now languishes on the market for 0.5% of its value. You are witnessing NFTs that were purchased for millions of dollars being resold for what seems like a few bucks. Are NFTs dead? Not even close. This...
We've all heard the stories. The million-dollar JPEGs, the get-rich-quick schemes, the hope of a decentralized heaven for creatives. What happens when the music stops? This recent NFT crash is more than just a market correction. It’s a reminder that market hype without guardrails can create brutal outcomes, especially for...
The NFT market has been incredibly volatile, with many projects or collections having had lost as much as 90% of their initial value. Despite the ongoing crypto winter, the recent sale of CryptoPunk #3100 for 4000 ETH made waves. This sale—which was valued at approximately $16 million—has sparked rampant speculation...
CryptoPunks, designed by Larva Labs in 2017, is a set of non-fungible tokens (NFTs). It has enjoyed tremendous success and has wrestled through difficult times in the ever-evolving digital marketplace. In 2021, the initial creation of 10,000 avatars became the poster child of the NFT boom. Individual NFTs from this...
Alright, now let’s deal with the unpopular opinion question. A CryptoPunk, #3100, sold on Friday for the equivalent of 4,000 ETH. Sounds good, right? Except it wasn’t, since it had been bought at a net cost of about $10 million higher than this sale price. Headlines scream "NFT crash!" and...
Imagine losing millions overnight. And, of course, you didn’t just lose money in an abstract market crash. Rather, you figured out that the NFT you purchased as a store of value was actually a really costly JPEG. That’s the reality one just experienced with the sale of CryptoPunk #3100. Granted,...
The numbers are hard to ignore. BNB Chain has been crowing about increased NFT sales, surpassing Ethereum and Polygon on some days. $8.2 million in daily sales? That's a headline grabber. But hold on one second, though. In a world obsessed with get-rich-quick schemes, it's crucial to ask: is this...
The numbers don't lie: BNB Chain's NFT sales are surging.… daily sales totaled $8.2 million, far outpacing Ethereum and Polygon. Now, hold on a second, don’t save all the fireworks just yet. Are we truly living through a democratization of art and opportunity? Or is this simply the latest iteration...