CryptoPunks: “Punk It!”: Sotheby’s NFT Sale Instantly Canceled | publication

• 104 CryptoPunks with an estimated auction value of approximately $30 million withdrawn shortly before the start of the Sotheby auction
• The reasons for the withdrawal are not clear
• Little support from the crypto community: the anonymous seller is heavily condemned in social media

A few days ago, a major NFT auction exploded at Sotheby’s auction house: An anonymous seller, who appeared on Twitter and other portals as 0x650d, pulled his collection of CryptoPunks for sale about 25 minutes after the auction actually started, according to Business Times suddenly again on February 23. According to media reports, the estimated value of the group is about 30 million US dollars.


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104 CryptoPunks must be in the “Punk It!” At the end of February. It is being sold by public auction

“Punk it!” It was announced by Sotheby’s and 0x650d via Twitter in early February. The set must contain 104 NFTs, and it will be sold as a live auction.

CryptoPunks is a project by Larva Labs. According to the company’s website, the cheapest token in this chain was priced at 68.5 ETH as of early March 2022. This equates to approximately $204,340, so the pool should currently be worth around $21.25 million. This is also consistent with data from DappRadar, which indicated that the anonymous seller’s wallet of 136 NFTs had a similar total value at the time the auction was announced. So the sudden drop in value is probably not the reason for the sudden drop from 0x650d.

The reasons for the unknown seller’s withdrawal are unknown

Shortly after the auction, Sotheby’s reported via Twitter that the seller had suddenly withdrawn his collection.

As reported by Fortune, Sotheby’s spokesperson Derek Parsons later stated that the pullout took place before the auction began. It is therefore unlikely that 0x650d would withdraw CryptoPunks – as he himself put it on Twitter – after receiving the first funds. Accordingly, a fraud is unlikely.

Cryptocurrency enthusiasts credit the seller for his decision

While the press can only speculate on the possible reasons behind the seller’s sudden decision not to sell his collection, 0x650d has left its social media followers in the dark. On Twitter, he only said: “nvm decided to keep it after all.”

His community is somewhat unenthusiastic about this: it has already been accused that 0x650d missed an opportunity to make CryptoPunks more popular by auctioning at Sotheby’s. Instead, according to user Robert Lechner, the withdrawal had the opposite effect.

Olga Rugler / Editor

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