Report said that an unknown user purchased CryptoPunk number 3860 for 99 Wei, worth next to nothing, yesterday after the artwork featuring a male character smoking a cigarette had sold for 30 Ether (ETH) around $69,369 at the time.
It has been reported that the user was then able to resell the figure for 52 ETH, or $136,675 at the time of the sale.
However, according to Float Capital's co-founder, Jonathan Clark, the previous owner of the CryptoPunk may have mistakenly listed the artwork at the absurdly low price “instead of creating a whitelist sale so only they could buy it.”
The buyer, most likely in an attempt to snatch up the valuable CryptoPunk before everyone else, paid 22 ETH, around $57,000, in “bribes” using Flashbots, a protocol that allows private communications between Ethereum users and miners. These funds seemingly encouraged a miner to prioritize the user’s bid.
The report said that after scooping up the CryptoPunk and reselling it within six hours, the user made a profit of around $80,000. It appears that they are not lacking funds, the same user has bought and resold 78 CryptoPunks, apparently resulting in a net loss of around $10,000, as of August 4.
Thus, CryptoPunks, the predecessor of many nonfungible tokens (NFTs), are small pixelated depictions of people, apes, zombies, and aliens. In June, Sotheby's auction house set a world record for the sale of an alien CryptoPunk at $11.8 million.
Source: Cointelegraph