{"id":2777,"date":"2022-02-24T11:28:46","date_gmt":"2022-02-24T04:28:46","guid":{"rendered":"https:\/\/cryptoinsider.asia\/?p=2777"},"modified":"2022-02-24T11:28:46","modified_gmt":"2022-02-24T04:28:46","slug":"sothebys-withdraws-lot-of-104-cryptopunks-minutes-before-expected-auction","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/sothebys-withdraws-lot-of-104-cryptopunks-minutes-before-expected-auction\/","title":{"rendered":"Sotheby\u2019s Withdraws Lot of 104 CryptoPunks Minutes Before Expected Auction"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">The sale was expected to draw up to $30 million before it was abruptly canceled by the seller.<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A collection of 104 CryptoPunks expected to be sold for up to $30 million was put on ice Wednesday during a much-anticipated auction at Sotheby\u2019s.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A Sotheby\u2019s representative said that the seller decided to withdraw the lot. The auction was first announced on Feb. 8.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The lot, which Sotheby\u2019s titled \u201cPunk It!,\u201d was first acquired by collector \u201c0x650d\u201d back in July 2021 through a single $7 million transaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a tweet after the initial publication of this article, the pseudonymous collector said they changed their mind:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Perhaps contributing to 0x650d\u2019s reversal were rumors of a tepid reception for the CryptoPunks mega-lot. Three sources, including one bidder on-site at Sotheby\u2019s, told CoinDesk that the highest pre-bid offer was $14 million, which was also the reserve price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since the project\u2019s inception in 2017, CryptoPunks, created by Larva Labs, has generated over 683,000 ETH in sales volume, roughly $2 billion at the time of writing. The project currently boasts a floor price of 67.5 ETH ($207,000).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This was supposed to be the second time Sotheby\u2019s has facilitated the sale of a major NFT lot, with the first being a $24.4 million collection of 101 Bored Apes sold in September. Rapper Ja Rule was among those in attendance at the New York auction house.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To say Sotheby\u2019s has leaned into the growing world of digital art and crypto would be an understatement \u2013 the famed auction house reported over $100 million in NFT sales in 2021 alone, and on occasion has even accepted bids for non-NFT related artwork in ether, the native currency of the Ethereum blockchain.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sale was expected to draw up to $30 million before it was abruptly canceled&hellip;<\/p>\n","protected":false},"author":3,"featured_media":2782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[75,44],"tags":[386,37,385],"class_list":["post-2777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-tin-tuc","tag-104-cryptopunks","tag-nft","tag-sothebys"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sotheby\u2019s Withdraws Lot of 104 CryptoPunks Minutes Before Expected Auction<\/title>\n<meta name=\"description\" content=\"The sale was expected to draw up to $30 million before it was abruptly canceled by the seller. A collection of 104 CryptoPunks expected to be sold for up to $30 million was put on ice Wednesday during a much-anticipated auction at Sotheby\u2019s. 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A collection of 104 CryptoPunks expected to be sold for up to $30 million was put on ice Wednesday during a much-anticipated auction at Sotheby\u2019s. 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