CryptoPunk Owner Explains Turning Down Record Offer

CryptoPunk Owner Explains Turning Down Record Offer article feature image

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A Canadian NFT collector revealed that he turned down a record $9.49 million offer for his CryptoPunk last week, spurning a sale that would have resulted in an 11,300% return on his investment in fewer than seven months. 

The man, who goes by the handle @richerd on Twitter, bought the CryptoPunk for $83,209 on March 31, but said his identity — which now includes an NFT company — is too tied into it. 

My identity along with identity of other iconic Punks and apes have value beyond the NFT itself. We have our own brands similar to any other brand and that has value.

Because I value my personal brand and identity, this was an easy rejection for me.

— richerd (@richerd) October 16, 2021

Over past 6 months I have used 6046 as my identity and have built up a significant brand around it.

Most of you know, for:
– co-founder of @manifoldxyz
– smART contract artist
– Crypto security
– NFT insights
– 3D glasses connoisseur
– Namesake of @richerd3DAO
– NFT Degen

— richerd (@richerd) October 16, 2021

To dismiss the offer as a publicity stunt, the collector said he did not know the person who made the offer (wallet name: poap.eth). But he did have an email exchange and could have pressed the button on the Opensea platform that would have resulted in the sale. 

The CryptoPunk has the much-coveted 3D glasses, which are in 3% of punks, frumpy hair (4%) and a cigarette in his mouth (10%). 

The last CryptoPunk that sold with 3D glasses and frumpy hair sold 74 days ago for $214,929.

After deciding to pass, Richerd shouted out to others with diamond hands, the increasingly popular phrase for people who insist on holding despite what could result in a loss of money.

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