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A trader spotted this digital loophole to complete the purchase of a #CryptoPunk valued at $1.5 million for just 10 ETH (approximately $23,000) The CryptoPunk in question is #2386, it is an ape-themed NFT, it has a headband and small sunglasses, making it one of the rarest pieces in the collection In 2020, it was split into 10,000 parts on Niftex and 257 owners took a slice of the pie, the trader used a "blind buy", a smart contract trick that allows a purchase price to be proposed for fractional NFTs, although Niftex closed the doors, its smart contracts remained in effect, allowing the purchase to be executed
A trader spotted this digital loophole to complete the purchase of a #CryptoPunk valued at $1.5 million for just 10 ETH (approximately $23,000)

The CryptoPunk in question is #2386, it is an ape-themed NFT, it has a headband and small sunglasses, making it one of the rarest pieces in the collection

In 2020, it was split into 10,000 parts on Niftex and 257 owners took a slice of the pie, the trader used a "blind buy", a smart contract trick that allows a purchase price to be proposed for fractional NFTs, although Niftex closed the doors, its smart contracts remained in effect, allowing the purchase to be executed
CryptoPunk NFT Sold for $23,000 Instead of $1.5 Million in Smart Contract Move 😂 #CryptoPunk #2386, a rare NFT valued at $1.5 million (600 ETH), was acquired for just $23,000 (10 ETH) due to a strategic use of smart contracts. Originally fractionalized on the now-defunct #Niftex platform, its 10,000 shares were left in limbo, making trade difficult for its 257 holders. An unknown buyer triggered a "shotgun" buyout feature, acquiring the NFT at a significantly undervalued price. While one investor tried to #counterbid , the purchase went through, leading some to call it the "steal of the century." Despite the controversy, others argue it demonstrates the ups and downs of decentralized systems. If you enjoy my content, feel free to tip me ❤️ #Binance #crypto2024
CryptoPunk NFT Sold for $23,000 Instead of $1.5 Million in Smart Contract Move 😂

#CryptoPunk #2386, a rare NFT valued at $1.5 million (600 ETH), was acquired for just $23,000 (10 ETH) due to a strategic use of smart contracts.

Originally fractionalized on the now-defunct #Niftex platform, its 10,000 shares were left in limbo, making trade difficult for its 257 holders. An unknown buyer triggered a "shotgun" buyout feature, acquiring the NFT at a significantly undervalued price.

While one investor tried to #counterbid , the purchase went through, leading some to call it the "steal of the century." Despite the controversy, others argue it demonstrates the ups and downs of decentralized systems.

If you enjoy my content, feel free to tip me ❤️

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#crypto2024
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