Cost basis was zero, as it was a free claim. So a W overall. But, the seller ignored a bid for 22...
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The sale of CryptoPunk 1021 for 720 ETH highlights the significant volatility and potential for value depreciation in the NFT market. An earlier bid of 2200 ETH was rejected, indicating a substantial loss for the seller who held onto the asset. This serves as a cautionary tale for NFT investors regarding market timing and liquidity.
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About Beanie
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By beaniemaxi
Crypto native since the early days. Went all in on DeFi summer. Then tripled down on NFTs. VC @gmcapital_. No paid promos. Not financial advice. I talk my book.