Owner Declines Offer to Sell His NFT for $9.5 Million: Here’s Why


CryptoPunk #6046 owner has stunned the world by declining an offer of ETH 2,500. The owner, who goes by the name Richerd (@richerd) on Twitter, wrote about the rejected deal on the microblogging platform. In a long thread, he explained the reason. Richerd turned down an offer from user @poapxyz to sell his CryptoPunk #6046 NFT. If the transaction had been carried out with Ether, this would have been the “largest-ever on-chain NFT sale in USD,” as per Richerd. The amount of ETH 2,500 roughly translates to $9.5 million (roughly Rs. 71.5 crores)

Richerd tweeted on October 16, “This could have been the largest ever on-chain NFT sale in USD, but I chose to reject the offer. Here is the story and why.”

Richerd clarified that his CryptoPunk NFT was not for sale. “Don’t care what anyone offers me,” he wrote. In fact, he argued that he wouldn’t sell it even if someone offered him a billion dollars for selling it.

Despite Richerd’s stand, @poapxyz made a bid of ETH 2,500 and asked him if he wanted to “go down in history as the top CryptoPunk sale to date.” The tweet also attached a photo of the transaction history by @poapxyz.

CryptoPunks rule much of the NFT trade through 10,000 unique characters that are stored on the Ethereum blockchain. The value of each NFT from the collection depends on how rare the individual NFT’s characteristics are.

According to Richerd, his CryptoPunk #6046 should not cost ETH 2,500 as 3D glasses aren’t the rarest of traits in the set. Here’s what he had to say about it:

The main reason why Richerd rejected the offer was his brand identity. According to him, #6046 has become his social media identity and he has also created a successful brand around it as a smart contract artist, NFT degeneration, and co-founder of Manifoldxyz, a platform dedicated to NFT creators.

He considered that his identity, linked with #6046, was more valuable than any NFT transaction.

In fact, he believed that what he creates out of this brand identity would be of greater value.

He did not sell it also because he was concerned about his followers.

Richerd confessed that he did not know about the bid ahead of time and was free to accept or reject it.

He ended his note by saying, “Punk 6046 cannot be bought!”

Earlier this year, CryptoPunk #7804 was sold at a record price of $7.57 million (roughly Rs. 57 crores).

Source link


Please enter your comment!
Please enter your name here