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\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Yuga Labs \"now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits\" according to their announcement. This means that they own both the 1st<\/a> and 2nd<\/a> most valuable NFT collections on the market.<\/p>\n\n\n\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/yugalabs\/status\/1502420714527334406?s=20&t=IyM-KDtJPh0WaI5XPfA10A\n<\/div><\/figure>\n\n\n\n

Yuga Labs \"now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits\" according to their announcement. This means that they own both the 1st<\/a> and 2nd<\/a> most valuable NFT collections on the market.<\/p>\n\n\n\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A joint<\/a> announcement<\/a> was made by Larva Labs and Yuga Labs on Twitter<\/a> on Friday evening.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/yugalabs\/status\/1502420714527334406?s=20&t=IyM-KDtJPh0WaI5XPfA10A\n<\/div><\/figure>\n\n\n\n

Yuga Labs \"now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits\" according to their announcement. This means that they own both the 1st<\/a> and 2nd<\/a> most valuable NFT collections on the market.<\/p>\n\n\n\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, has acquired CryptoPunks and Meebits from fellow developer Larva Labs.<\/p>\n\n\n\n

A joint<\/a> announcement<\/a> was made by Larva Labs and Yuga Labs on Twitter<\/a> on Friday evening.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/yugalabs\/status\/1502420714527334406?s=20&t=IyM-KDtJPh0WaI5XPfA10A\n<\/div><\/figure>\n\n\n\n

Yuga Labs \"now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits\" according to their announcement. This means that they own both the 1st<\/a> and 2nd<\/a> most valuable NFT collections on the market.<\/p>\n\n\n\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1514272446186233857?t=UZXBN2z6wDGQ3GXTL7elrw&s=19\n<\/div><\/figure>\n","post_title":"CryptoPunk #7756 Sells For Over $3.2M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-7756-sells-for-over-3-2m","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits\/","post_modified":"2022-04-20 22:27:53","post_modified_gmt":"2022-04-20 12:27:53","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4451","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3890,"post_author":"1","post_date":"2022-03-13 19:50:24","post_date_gmt":"2022-03-13 08:50:24","post_content":"\n

Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, has acquired CryptoPunks and Meebits from fellow developer Larva Labs.<\/p>\n\n\n\n

A joint<\/a> announcement<\/a> was made by Larva Labs and Yuga Labs on Twitter<\/a> on Friday evening.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/yugalabs\/status\/1502420714527334406?s=20&t=IyM-KDtJPh0WaI5XPfA10A\n<\/div><\/figure>\n\n\n\n

Yuga Labs \"now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits\" according to their announcement. This means that they own both the 1st<\/a> and 2nd<\/a> most valuable NFT collections on the market.<\/p>\n\n\n\n

Yuga Labs plans to grant the commercial rights to all CryptoPunk and Meebit NFTs to their owners, as has been done for BAYC owners. This still means that Yuga Labs owns the collection and will \"be building the overall brand right alongside them\", but each NFT owner can monetize their specific ape.<\/p>\n\n\n\n

\"It\u2019s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can\u2019t wait to see the Cryptopunks and Meebits communities do the same.<\/em>\"<\/p>Yuga Labs on Twitter<\/a><\/cite><\/blockquote>\n","post_title":"BAYC's Yuga Labs Acquires Rights To CryptoPunks And Meebits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"baycs-yuga-labs-acquires-rights-to-cryptopunks-and-meebits","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:28","post_modified_gmt":"2022-03-14 10:05:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1529,"post_author":"1","post_date":"2021-10-29 17:25:31","post_date_gmt":"2021-10-29 06:25:31","post_content":"\n

One of the largest art sales in history may have just taken place, CryptoPunk #9888 sold for $530 Million.<\/p>\n\n\n\n

Although, this is no more than just an elaborate hoax. See it is hard to trick people when you buy your own artwork, especially on a public blockchain.<\/p>\n\n\n\n

A Twitter bot tracking the sales of every CryptoPunk tweeted this on Thursday night shortly after 8 pm. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/cryptopunksbot\/status\/1453872415591829504\n<\/div><\/figure>\n\n\n\n

You may wonder \"What makes this NFT worth half a billion dollars?<\/a>\" and the truth is, not much actually. <\/p>\n\n\n\n

Using Rarity<\/a> ranks its Rarity Score at a mere 136.49<\/a>, compared to Punk #7804 which actually sold for $7.57M and has a rarity score of 2329.18<\/a>.<\/p>\n\n\n\n

Due to the fact this punk lacks desirable features from a collectors perspective, it quickly attracted attention to how it could sell for this sum of money. <\/p>\n\n\n\n

A look at the Ethereum Blockchain Ledger shows that it was nothing more than smart, smart contract trickery.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nanexcool\/status\/1453874296812670976\n<\/div><\/figure>\n\n\n\n

Why Would You Buy Your Own NFT?<\/h2>\n\n\n\n

The purchase was made using a flash loan contract, essentially this is a loan that is repaid immediately. <\/p>\n\n\n\n

The owner of this Punk bought his own Cryptopunk and instantly paid back his loan, using smart arbitrage he bought millions of eyes onto his NFT for only $800 in Ethereum Gas Fees.<\/p>\n\n\n\n

Is this purely genius marketing to a not so spectacular Cryptopunk?<\/p>\n","post_title":"What's Behind The $530M CryptoPunk #9998","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptopunk-9998","to_ping":"","pinged":"","post_modified":"2022-03-14 21:05:56","post_modified_gmt":"2022-03-14 10:05:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1529","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n