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CryptoPunk #3100, valued as one of the rarest NFTs, was recently sold at a staggering $10M USD loss, underlining the ongoing NFT market downturn.
What’s the Scoop?
- Once a Symbol of Prestige: CryptoPunks, an iconic NFT collection, was once a darling of the NFT market with record sales peaking at $56M in 2024.
- Significant Loss: CryptoPunk #3100, an ultra-rare Alien Punk, sold for 4,000 ETH ($6M), down from its original $16M purchase price.
- Declining NFT Market: NFT overall trading volumes have dropped significantly since 2021, with fewer buyers stepping in as the hype cools.
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