NFT

CryptoPunk, which cannot be bought for $9.5 million, holds a brand value and symbolic identity far beyond its NFT price!

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CryptoPunk, which cannot be bought for $9.5 million, holds a brand value and symbolic identity far beyond its NFT price!

According to data from Larva Labs, CryptoPunk #6046 received a bid of up to 2,500 ETH from poap.eth last Friday, valued at approximately $9.5 million. Such a tempting offer would have been hard to resist. However, the owner of this CryptoPunk, richerd, declined.

CryptoPunk #6046

This CryptoPunk is characterized by three main features: 3D glasses, messy hair, and a cigarette. It is not particularly rare among the total of 10,000 CryptoPunks. The current owner, richerd, acquired it for 45 ETH, while poap.eth, from the Ethereum domain of the Proof of Attendance Protocol, was willing to bid 2,500 ETH, though the reasons behind this bid remain unknown.

richerd Speaks Out

Many have questioned richerd's decision in this event, as 2,500 ETH is the highest offer ever made for a CryptoPunk in the series. Such a high amount leaves no reason to refuse. Despite the various debates on social media, richerd adamantly stated that he would never sell and explained the reasons why he is unwilling to part with it.

richerd bluntly expressed that he believes his CryptoPunk does not hold such high value, and poap.eth's willingness to offer this bid is because the owner of this CryptoPunk is him. In other words, over the past six months, richerd has used CryptoPunk #6046 as a symbol of his online identity and has enhanced its brand value through various actions.

These include:

  • manifoldxyz Co-founder of the NFT minting platform
  • smART contract artist specializing in smart contract art
  • Sharing insights on crypto security and NFTs
  • 3D glasses enthusiast
  • richerd3DAO Founder
  • NFT Degen NFT Gambler

"My identity transcends the value of the NFT itself, just like other Punks and Apes with their own brands. Refusing this offer was easy for me because I value my personal brand and identity," richerd stated.

Value of Early NFT Projects

CryptoPunks, a 2017 NFT project, is seen by many as valuable due to being one of the early projects in the NFT space, rather than for its utility. The richerd incident clearly demonstrates how actions by owners of such projects as symbols of the NFT industry can greatly enhance brand value. After all, having a CryptoPunks avatar means speaking louder on Twitter or Discord and attracting attention more easily. By expressing convincing opinions or releasing valuable projects, the price of NFTs naturally rises.

Today, richerd responded to various questions from netizens on Twitter, reiterating that he was not involved in wash trading or money laundering transactions, and he does not regret not selling CryptoPunk #6046.

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