The trade occurred on NFTTrader, a platform set up for trading NFTs.
Trading NFTs hearkens back to the analog days in which kids traded baseball cards. (With the huge increase in value of baseball cards, not sure if trading cards is as common today.) Even though trading cards was fun, it also could leave one kid with a raw deal. Let’s say someone who traded a Tom Brady rookie card for a Spergon Wynn rookie card in 2000. If you’re from Cleveland, you know that the Browns drafted Wynn ahead of Brady in the NFL draft. Oh well.
On (virtual) paper, it’s not clear why @CryptoHammond would make this trade. The Larva Labs’ CryptoPunks is the highest grossing NFT collection thus far. Developed in 2017, they are viewed as pioneers in the evolution of NFTs–and rightfully so. United Talent Agency (UTA) has already signed Larva Labs’ to a representation deal, presumably to bring CryptoPunks to Hollywood movies, shows, or video games.
The current lowest price of a CryptoPunk is 98.99 ETH ($348,935.79 USD).
That’s not to say the Bored Ape Yacht Club is a bust. Steph Curry and other NBA stars have purchased NFTs from the collection. We’ll have to wait and see how this trade plays out.
