A crypto client was smart enough to collect $80,000 within a day by selling a Cryptopunk, which he bought without paying a penny. It was revealed through the blockchain records shown by Larva Labs that an anonymous user bought 3860 number CryptoPunk for 99 Wei (which is 99 quintillion of an Ether) recently preceded by the artwork of a cigarette smoking male character had been sold on Thursday in return for 30 Ether (ETH) which counted up to $69, 369 at that time. The buyer then got a chance to resell it in return for $136,675, or 52 ETH, when it was sold.
Jonathan Clark, the co-founder of Float Capital, considered that the CryptoPunk’s former owner might have listed the artwork by mistake at an astonishingly low price rather than putting it into a whitelist for themselves. The purchaser, seemingly in an endeavour to have a grab on the valuable CryptoPunk before the others, submitted more than $57,000 or 22 ETH in bribes via Flashbots (a protocol enabling secret communications among the miners and users). These funds are likely to encourage the miner to prefer a bid over the others.
Some other users talked about it on Twitter, saying it was an intelligent move on behalf of the buyer. A user having an account named ‘JonJon’ commented that it is a rather nice way to profit rather than playing chess. He retweeted a tweet of ‘CryptoPunks Bot’, which mentioned that the aforementioned token was sold for 99 Wei by Larva Labs. JonJon further mentioned it as a blunder to put a CryptoPunk into a general sale rather than making a whitelist trade enabling only them to purchase it.
After purchasing the CryptoPunk as well as reselling it in no longer than six hours, the user acquired revenue of nearly $80,000. Nonetheless, it is clearly shown by this example that they do not lack funds as the very user purchased and re-traded 78 CryptoPunks, which led to a cumulative loss of approximately $10,000.
CryptoPunks, which are popularly considered to be the precursor of numerous nonfungible tokens, comprise low pixelated portrayals of aliens, zombies, apes, and people. In June, a world record has been made by the auction house of Sotheby as a CryptoPunk, which depicted an alien, was sold there in return for $11.8 million.
