Affected by FTX’s collapse user puts NFT collection up for sale for $10 million
Deepak Thapliyal, the CEO of the blockchain company, Chain, reported that the sale was necessary to provide liquidity
11.11.2022 - 15:00
256
2 min
0
What’s new? On November 11, Deepak Thapliyal, the founder of the blockchain company, Chain, also known as Deepak.eth, put up a large collection of non-fungible tokens (NFTs) on the OpenSea marketplace at a price of 8000 ETH (~$10,1 million as of 14:15 UTC). Thapliyal cited the collapse of the FTX crypto exchange as one of the reasons for the sales. Chain recently made a large deposit to the platform, but its bankruptcy forced the owner to seek liquidity in assets such as NFTs.
My NFT Collection is now available. It will either be sold to the highest bidder or be placed in a fractional DAO where I will be selling 80% ownership for 8k ETH to the community. DMs open. Check them out👇 pic.twitter.com/7TZpAc7TDK — Deepak.eth ⛓ (@dt_chain) November 11, 2022
What is known about the collection? Thapliyal wrote that he would sell the collection to the highest bidder or transfer 80% of the ownership for 8000 ETH to members of a decentralized autonomous organization (DAO).
The collection of Chain’s CEO includes tokens from the collections such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), CryptoPunks (including NFTiff passes that entitle one to receive precious pendants from Tiffany), and Otherdeed tokens used in the Otherside metaverse, which, like all the abovementioned projects, is owned by Yuga Labs.
Notably, in February, Thapliyal bought a rare token CryptoPunk #5822 also for 8000 ETH (over $23,7 million at the time of the transaction). In this, he used credit collateral on the Compound crypto platform, which allowed him to buy an NFT without having to sell his digital assets.
For the reasons behind the drop in token prices from the largest collections and new trends in the NFT market, check out GetBlock Magazine’s article.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$97 472
BTC
-1.89%
-
Ethereum
$3 401.06
ETH
+3.35%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+0.17%
-
Dogecoin
$0.41972
DOGE
+4.74%
-
Cardano
$1.05
ADA
+6.92%
-
Stellar XLM
$0.487134
XLM
+46.05%
-
Polkadot
$8.48
DOT
+33.61%
-
Bitcoin Cash
$502.75
BCH
+3.12%
-
Litecoin
$97.88
LTC
+7.94%