@CryptoHammond explains why trading away CryptoPunk #8922 for 2 Bored Ape Yacht Club NFTs

  • Earlier today, we reported about a curious NFT trade made by @CryptoHammond: CryptoPunk #8922, created by Larva Labs and valued today at 115.37 ETH ($404,149), for two NFTs from the Bored Ape Yacht Club: #2812, which received offers today of 35.531 WETH ($124,933.39) and #5068, which received offers of 36.21 WETH ($127,320.88). The trade is curious because the CryptoPunks collection by Larva Labs has amassed the highest value in NFT sales and already has become almost legendary in the history of NFTs, so much so that United Talent Agency (UTA) is working on Hollywood deals for the CryptoPunks.
Image of CryptoPunk #8922
  • Since our post, @CryptoHammond has explained on Twitter the logic behind the trade: “I think short term having 2 non floor apes outperforms a floorish punk, but I also would get really scared of selling my only punk incase I got priced out, this way I can always offset 1 for liquidity while still being exposed to the project.” @CryptoHammond also reveals on Twitter being just a college student, mind-blowing in itself. @CryptoHammond is trying to “accumulate as much eth as I can before graduate college” and the deal was for “short term” benefits.
  • What do you think? Was the trade good or bad? Drop a comment.