Whale liquidates BAYC and CryptoPunk NFTs

Whale liquidates BAYC and CryptoPunk NFTs

NFT whale and CEO of the famous cryptographic ledger systems Chain, Deepak Thapliyal, has announced that he is selling his NFT collection at a discount to the highest bidder. Deepak auctioned his NFTs on Twitter this morning, featuring 10 CryptoPunks and seven Bored Apes. 

The renowned NFT collector has revealed that his ongoing NFT sale is due to the eight-digit funds on FTX and liquidity problems. According to Thapliyal’s tweets, the NFTs will either be sold via auction or fractionally via a DAO. Announcing the sale, Deepak wrote;

“My NFT Collection is now available. It will either be sold to the highest bidder or be placed in a fractional DAO where I will be selling 80% ownership for 8k ETH to the community. Includes: Alien Tiffany Punk 5822, 9 other Tiffany Punks (with the NFTiff & Pendants), Gold Ape 232, 6 other BAYCs, 3 Mutants, 4 Otherside plots and a ENS.”

Deepak’s NFT Collection

Deepak’s collection includes the famous Alien CryptoPunk #5822, reputed to be the world’s most expensive NFT at the time, according to Guinness World Records. CryptoPunk #5822 last sold for 8000 ETH about $23.7 million USD, in February. The NFT is now available for purchase.

Other NFTs on sale are; a Gold Fur Bored Ape 232, one of the most-coveted traits in the project’s ecosystem, and nine other Tiffany Punks. Additionally, there are six more from the Bored Ape Yacht Club collection, three Mutant Apes, four Otherside virtual land plots, and the ENS name helix.eth. According to an OpenSea review, the collection of 36 NFTs, with CryptoPunk #5822, is still listed at 8,000 ETH. The second most expensive item in the collection is the laser eyes BAYC 9452, which is currently listed for 347 wETH.

With crypto and NFT markets currently in bear territory, finding a buyer may not be simple. However, those with the conviction of a digital art comeback, and deep pockets, may not balk at the price. Although Deepak is yet to announce any sale, several Twitter users have shown interest in the collection.

FTX crumbling the digital asset market 

Over the past few days, the crypto community has felt the heat of the FTX crisis. Unfortunately, cryptocurrencies are not the only thing going cheap at the moment; even non-fungible token (NFT) investors are being affected. 

NFT trading activity has been downtrend all year and has declined further recently. Sales figures and volumes have slumped in line with the broader crypto market, which is currently down 72% from its peak last year.

At the beginning of the year, daily sales were over $150 million. Today, they have slumped to around $12 million, according to Nonfungible’s market tracker.  

As of press time, the CryptoPunks floor price sits at 62 ETH and has stayed relatively flat over the past 24 hours on 208 ETH volume of transactions. Over the last 30 days, 26 sharp wallets have sold 32 NFTs in the CryptoPunks collection.

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