Just when you think you’ve heard about all the mind-blowing sales of Cryptopunks, another one makes it to the headlines. And oh what a sale this is! First, let’s recap the lowest price of a Cryptopunk ever. Spotted by DappRadar in a tweet, and according to Larva Lab’s own market tracker, the cheapest punk ever was at 38.5 ETH. So, how the hell was CryptoPunk #2927 sold for 2 ETH ?? I’ll give you a hint Bullkis. eth played his cards smart, and probably changed the way we will view NFT trading in 2023!
Previous Cryptopunk Sales
If we take a look at NFTGo’s price & sales chart for Cryptopunks, we kinda get the whole picture. It’s a very expensive NFT collection that captures the interest of whales. Its floor price held itself steadily above 40 ETH for the longest time. All this concrete data makes it impossible to process how a Cryptopunk sold for 2 ETH, I know.
Not only that but Crytopunks witnessed some of the highest sales in the history of NFTs. One of which made it to the Guinness Book of Records! Check out this list:
- ‘Coin Alien’ CryptoPunk #7523 sold at Sotheby’s “Natively Digital: A Curated NFT Sale” for $11.75 million back in June 2021.
- Cryptopunk #5822 sold for a shocking 8,000 ETH (about $23.7 million) in February 2022. The Guinness Book of Records recognized it as the most expensive digital collectible of all time.
- CryptoPunk #5577 sold for 2,501 ETH (about. $3.03 million) also in February 2022.
How A Cryptopunk Sold for 2 ETH in 5 days
Won’t make this story long as Bullkis.eth explains it in detail in his Twitter thread. Here’s the short tale of how Cryptopunk #2927 sold for 2 ETH.
It all started with the recently hyped blockchain game, Wolf Game, which launched at the end of 2022 on December 22. ( On a completely irrelevant note, that’s such a cool date 22-12-2022). Now many crypto legends are into that game including big names like Gmoney and Garyvee. Trust me, it’s more than just a P2E game. It’s more like a simulation of the exact situation happening in the NFT/Crypto rabbit hole.
Welcome to Wolf Game.https://t.co/TbYawrQPBH
– The Shepherd pic.twitter.com/wZ8PiOlt7A
— Wolf Game (@wolfdotgame) December 22, 2022
Here’s How it Went Down:
1- Bullkis.eth took it upon himself to curiously read the rules of the game. One rule stood out “Farmers can give you 10x the tax on a land plot”. With that alone, he proved to everyone around the world that reading a manual is very rewarding.
2- He calculated which lands in the game were the most valuable to use the 10x tax boost at its best. With a little inspiration from Mad Max:Fury Road, he figured that whoever owns the Water plots will make him the water king in the Wolf Game.
3- He found three plots of land that would serve the purpose, and didn’t the fact that they weren’t for sale stop him! Kudos to perseverance. He contacted the owners via Twitter and Discord and persuaded them to sell their plots to him. He got the three plots for a total of 2 ETH.
4- Now here is marketing at its best. He wrote a Twitter thread explaining why his 3 plots of land were the key to being the water king in Wolf Game.
5- Nothing could come his way, not even the fact that he didn’t have enough liquidity to attract a lot of farmers. So he went to the big players who had that force. Naturally, many were uninterested in his case.
6- Finally, he took his case to SeedPhrase, one of the brightest minds in Web3 who also plays the game. After 30 mins of persuasion, Cryptopunk #2927 was exchanged for the three Wolf Game water plots – bought by Bullkis.eth at 2 ETH.
call me crazy, but i've just traded CryptoPunk 2927 for 3 @wolfdotgame lands. hooked on this game rn
— seedphrase (@seedphrase) January 10, 2023
What the Hell?
Only time can tell whether seedphrase’s exchange was crazy or genius. Now I understand how a Cryptopunk is a technological artifact. That’s why owning a Cryptopunk is a huge deal despite not having a utility whatsoever. Even the creators get 0% royalty fees off it. Theoretically speaking, these plots of land can generate constant revenue over time. Seedphrase has a lot of experience in the crypto/NFT world, so I don’t think he’s the naive type. This move is a high-risk/high-reward kinda thing. There are chances that in the long run, these three plots of land will generate more than the 70 ETH Cryptopunk gave him. That’s speaking from a money-making point of view, putting aside the historical value of a Cryptopunk.
Funny replies in here. The guy who got in on bitcoin early, punks early, axie early is a bad trader and y’all are geniuses? Lmao. Maybe when someone with Seeds track record in the space knows something…
— Jpaige (@jpaige4369) January 11, 2023
Does it still sound bizarre that a Cryptopunk sold for 2 ETH? But hey, I’m no financial expert and this is all in theory. BTW, did you notice how it hasn’t been two weeks yet and 2023 is dropping headlines like a meteorite shower? BAYC’s floor price pumped 12 ETH, Azuki’s 3.5 ETH, and now 70 ETH-worth-Cryptopunk sold for 2 ETH! What’s next?