In what would rank as some of the costly gross sales within the historical past of NFTs, a CryptoPunk NFT has simply been bought for over $500 million, although analysts have begun to lift questions in regards to the legitimacy of the sale.
CryptoPunk 9998 bought for over $500 million
In response to the CryptoPunk sales feed, the stated NFT CryptoPunk #9998 was bought for $532 million, which suggests it’s the most costly sale within the historical past of Cryptopunks.
Whereas that is alleged to be celebrated, the crypto group has met the bizarre transaction with doubt, speculating that there might be a sort of manipulation within the sale.
Members of the group have identified that the brand new purchaser and the earlier holder might be the identical particular person as a result of the CryptoPunk NFT was bought again to the unique tackle that was holding it beforehand.
One other college of thought believes that the acquisition may have been made via a flash mortgage. If this was the case, it means the sale of the NFT may need been reversed.
A similar case had occurred earlier within the yr when this methodology was used to buy an NFT which left the holder with an intangible quantity of the gross sales worth.
Crypto group reacts
With the intention of the client and holder unclear, some have speculated that this might simply be somebody having enjoyable.
You’ll be able to borrow so long as you assure to pay it again inside the similar transaction. This particular person borrowed 500M DAI and a ton of ETH after which paid it again whereas concurrently buying the crypto punk.
— Buzz (@buzz_strong) October 29, 2021
Buzz, in making an attempt to rationalize the sale, acknowledged that it was a flash mortgage. In response to him, “This particular person borrowed 500M DAI and a ton of ETH after which paid it again whereas concurrently buying the crypto punk.”
The view of Buzz was additionally shared by @nanexcool who defined the sale as a flash mortgage.
That is so good 🙂
– Flash mortgage as a lot as you’ll be able to
– Record your punk for an insane quantity of $ETH
– Purchase it
– Different account provides you the ETH again
– Repayhttps://t.co/nlo24twyEx https://t.co/7CLhYAHKb8
— mariano.eth ✨ᕙ༼💦༽ᕗ✨ | 🦇🔊 (@nanexcool) October 28, 2021
Nonetheless, in style Twitter consumer David Lark doesn’t share the view. In response to him, it’s a case of cash laundering as he tweeted “Now that’s cash laundering.”
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