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Dormant NFT Wallet To Have Minted Expensive NFTs For $7 Each

Reports said that a dormant nonfungible token (NFT) wallet from 2017 with 141 CryptoPunks has been found to have minted the now ludicrously expensive NFTs for a possible $7 each.

It has been reported that according to Twitter user Nansen Intern from the analytics platform, the wallet is now valued at 11,300 Ether or around $14.7 million at current prices. The wallet has shown no activity since then, leading to speculation the owner lost the seed phrase. The wallet is placed in the top ten in terms of CryptoPunks holders and many collectors are reportedly monitoring it in hopes of snapping up a bargain.

However, CryptoPunks was one of the first collections to launch on Ethereum with 10,000 unique NFTs. CryptoSlam reports that it has been the third-highest collection for secondary sales over the past month, with a trading volume of $22.8 million.

The report said that according to OpenSea, which recently allowed users to submit bulk listings, rare CryptoPunk #9476 sold for a whopping $480,000, or 370 ETH, on October 17, proving that the pixelated punks remain popular. NFT project Street Machine has surged in popularity and price despite a broader downturn in the market. The cyberpunk anime series is a story-based collection designed by award-winning video game artist SpenzerG who was behind the popular PlayerUnknown’s Battlegrounds (PUBG) online shooter.

Likewise, it is inspired by sci-fi, cyberpunk, and anime pop culture, centering around a sprawling story with an online graphic novel theme. The collection launched on OpenSea on October 7 and has since surged in volumes and average prices. There are 8,000 story character NFTs in the collection and the floor price is currently 0.473 ETH, approximately $620.

According to OpenSea, the average price at launch was just 0.04 ETH — around $50 — but by October 18 it had increased 900% to 0.44 ETH, around $570, with daily volumes topping 250 ETH, or around $325,000, late last week.

Thus, the team behind the collection aims to emulate the popularity of Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) with branding, merchandise, and commercial rights for holders.

Source: Cointelegraph



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