According to TechFlow, on September 12, Decrypt reported that CryptoPunk#2386was purchased by a user through a "shotgun" method for 10 Ethereum (about US$23,000), while the current highest bid for the NFT is 600 Ethereum (about US$1.42 million). This rare event stems from an innovative practice during the heyday of the NFT market. In 2020, the owner of CryptoPunk#2386subdivided it into 10,000 ERC-20 tokens through a platform called Niftex, enabling more investors to have partial ownership. The NFT body is locked on the Ethereum blockchain, and investors can freely buy and sell these token shards. However, after the Niftex platform was shut down, trading these shards became extremely difficult.
According to @0xquit, an anonymous smart contract developer, Punk#2386ended up with 257 fractional holders. Because the smart contract was still valid on the blockchain, an unknown buyer was able to trigger the buyout function in the contract. @0xquit explained on Twitter: "Any shareholder can make a "shotgun" offer, propose a purchase price, and if no one counters within 14 days, they can buy the asset." The buyer launched a purchase offer of 0.001 ETH per share (a total of 10 ETH) on August 28. Gmoney, a well-known NFT investor and founder of 9dcc, said he tried to block the deal but failed due to miscalculating the consideration amount.
