Owner Declines Offer to Sell His CryptoPunk NFT for Record-Breaking $9.5 Million: Here’s Why


The owner of Cryptopunk #6046 has shocked the world by reducing his offer to ETH 2,500. The owner, who goes by the name Richerd (@richerd) on Twitter, wrote about the declined deal on the microblogging platform. In a long thread, he explained the reason for this. Richard turned down an offer from @poapxyz user to sell his Cryptopunk #6046 NFT. If the transaction had been done with Ether, it would have been the “largest on-chain NFT sale ever in USD,” according to Richard. The amount of ETH 2,500 roughly translates to $9.5 million (about Rs 71.5 crore).

“This might be the biggest on-chain ever” Richard tweeted on October 16th. NFT Selling in USD, but I chose to decline the offer. Here’s the story and why. “

Richard clarified that his cryptopunk NFT was not for sale. He wrote, “No matter what anyone offers me.” In fact, he argued that he would not sell it, even if someone offered him a billion dollars to sell it.

Despite Richard’s stance, @poapxyz bid ETH 2,500 and asked him if he wanted to be known as “the top cryptopunk sell ever in history.” The tweet also attached a picture of the transaction history by @poapxyz.

Cryptopunks rule the majority of NFT trading through 10,000 unique characters stored on the Ethereum blockchain. The value of each NFT from the collection depends on how rare the features of the individual NFTs are.

According to Richard, his Cryptopunk #6046 shouldn’t cost ETH 2,500 because the 3D Glass set doesn’t have the rarest traits. Here’s what he had to say about it:

The main reason Richard declined the offer was his brand identity. According to him, #6046 has become his social media identity and he has also built a successful brand around it as smart contract artist, NFT degeneration, and co-founder of Manifoldxis, a platform dedicated to NFT creators.

He believed that his identity linked to #6046 was more valuable than any NFT transaction.

In fact, he believed that whatever he builds from this brand identity would be worth more.

He didn’t even sell it because he was concerned about his followers.

Richard admitted that he was not aware of the bid ahead of time and was free to accept or reject it.

He ended his note by saying, “Punk 6046 can’t be bought!”

Earlier this year, Cryptopunk #7804 was sold on record price $7.57 million (about Rs 57 crore).