CryptoPunks Collection NFT is Sold for $23.7M

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Chain infrastructure company CEO Deepak Thapliyal has purchased NFT CryptoPunk #5822 for 8,000 ETH (about $23.7 million), which is the largest purchase ever for the Larva Labs collection.

Thapliyal has said on Twitter he has used a loan from lending platform Compound to purchase the token. According to him, this has allowed him to purchase NFTs without selling cryptocurrencies.

A researcher under the pseudonym interlunations has suggested Chain could have financed the purchase. He has pointed out the crypto that was allegedly used to secure the loan came to Thapliyal’s wallet from an address labeled on Etherscan as “Chain: Team Wallet 2.”

The CryptoPanks collection was launched by Larva Labs in 2017 and it features 10,000 NFT images sized 24×24 pixels. Many project tokens were distributed for free at first.