The Punk, one of only 24 Apes punks, was last sold in November 2020 for 150 ETH ($71,300) to DJ Seedphrase, the pseudonym of Danny Maegaard. Maegaard currently owns 20 other punks, including his signature CryptoPunk 8348, which features a top hat, big beard, shades and a cigarette.
He told CoinDesk that he had been negotiating with a buyer who operates a family office out of Texas for the last week before deciding to sell his coveted hooded Ape punk.
"I was running low on liquidity and NFT sales volume has taken a nosedive recently, so I knew it would take an exceptional grail to get some market movement," he told CoinDesk. "I’ve regularly received private offers for the hoodie ape, so I knew the interest was there. It was just a matter of finding the right price."
The buyer had used a wallet that had been dormant for over five years to purchase the punk, leading some to question the transaction's legitimacy. In October 2021, Punk 9998 was traded between two wallets for 124,457 ETH, worth around $532 million at the time. The trade raised suspicions and ultimately turned out to be an insider deal known as a wash trade.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.