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The Big Gamble

June 11, 2021
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While the general NFT market has been heading south, the upper end still seems to be heading north.  On Thursday, Sotheby’s London auctioned off “Covid Alien,” CryptoPunk 7523 for an astounding $11.8M.  The buyer definitely knows something about gambling, it was Shalom Meckenzie, the largest shareholder of DraftKings.  I guess when your are a gambler and worth an estimated $1.6B, why not roll the dice on an NFT. By the way, this was an auction record for a single CryptoPunk.  And in case you are wondering, this same NFT sold in 2017 for $1,646.

Source: ‘Covid Alien’ CryptoPunk NFT sells for over $11.7 million to billionaire buyer in Sotheby’s auction