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CryptoPunk NFT Sold for $23,000 Instead of $1.5 Million in Smart Contract Move š
#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.
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#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 ā¤ļø
#Binance
#crypto2024