SideShift.ai CEO Andreas Brekken believes CryptoPunk ##5822 was “most definitely” sold at a loss and that NFTs are “going to zero.”
Non-fungible tokens (NFTs) that used to be worth millions of dollars have faced significant declines as the market moves on to different investments. Some believe this could be the start of the end for digital collectibles.
CryptoPunk #5822 was sold for 8,000 Ether (ETH), valued at $23.7 million, in 2022. The NFT holds the record for the most expensive CryptoPunk sale and is the fourth most expensive NFT of all time. On Aug. 19, the NFT was transferred to an unlabelled wallet for an undisclosed amount.
Cointelegraph approached Web3 professionals to get their thoughts on the latest NFT sale.
