This has pushed a Twitter consumer with the handle @richerd to reject a 2,500 ETH (approximately $9.5 million) bid for CryptoPunk #6046. Owning a piece of Non-Fungible Token (NFT) nowadays isn’t just a way to own bragging rights today, it has become a prominent approach to store assets for many people.
NFTs provide a new way to store a bit of art on the blockchain such that they prove authenticity, and are verifiable. NFTs have become one of the important use cases of blockchain technology at this time, and the innovation has unleashed the creativity in digital artists around the world at this time, harnessing the opportunities NFT has brought.
Amongst the pioneering NFT collections are the CryptoPunks, a set of 10,000 randomly generated images created by the startup Larva Labs. CryptoPunks is currently the highest NFT collection of all time on the NFT market OpenSea, with over 551,000 ETH (~$2.1 billion) in complete gross sales quantity.
A large NFT collection like CryptoPunks are often tagged by their rarities, and one of the extremely rare ones was Punk #6046 which Richerd stated is “not for sale” no matter what bid was offered.
In justifying the rejection of the bid placed by poap.eth as seen on LarvaLabs page for the Punk, Richerd stated that his refusal was partly based on the truth that an enormous part of his only identity has been constructed across the CryptoPunk.
“My identity together with the identification of different iconic Punks and apes have value past the NFT itself. We’ve got our personal brands just like another brand and that has value. As a result of I value my personal brand and identification, this was an easy rejection for me,” Richard tweeted, “I’ve large conviction in the NFT space and in Punks. In terms of NFTs space, I believe very long term. To me, my brand, identity, and what I’m constructing within the NFT space will probably be far more worthwhile in the long run.”
Whereas Punk #6046 would have been essentially the most worthwhile of all of the CryptoPunks bought up to now had the bid been accepted, Beeple’s “Every day” remains the highest-grossing NFT piece of all time with a $69.3 million valuation when it was auctioned off in March.
Source: Blockchain News