CryptoPunk #3100: $6M Sale Leads to $10 Million Loss in NFT Market

A recent sale of CryptoPunks NFT #3100 involving a significant Ethereum transfer illustrates the volatility and risk associated with digital assets. The seller, who bought this specific PUNK for 4500 ETH in March 2024 (equivalent to $16 million), recently sold it for just 4000 ETH ($6 million). This transaction resulted in a staggering $10 million loss for the seller due to price fluctuations and market changes. Let’s explore the details of this eye-opening event and its broader implications for the NFT landscape.