![\"Sotheby\u2019s](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/02\/hhhhhhhh66677777.jpg\")
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On February 8, the multinational luxury auction company Sotheby\u2019s announced the firm would be auctioning 104 Cryptopunk non-fungible token (NFT) collectibles, but before the event started Sotheby\u2019s canceled the event. It seems \u201c0x650d,\u201d the owner of the Cryptopunks NFTs, decided to keep the assets that were estimated to fetch around $20 to $30 million at auction.<\/strong><\/p>\n The luxury auction house had to cancel an NFT auction dubbed \u201cPunk It\u201d on Wednesday after the consignor decided to back out. During the first week of February, Sotheby\u2019s revealed<\/a> it would be auctioning 104 Cryptopunks that were estimated to get around $20 to $30 million. The sale would be called \u201cPunk It,\u201d and the NFTs stemmed from the owner \u201c0x650d<\/a>,\u201d an individual who purchased the 104 Cryptopunks in a single transaction by paying a miner a bribe of five ethereum (ETH<\/a>) in July 2021.<\/p>\n Then on the day of the scheduled auction, Sotheby\u2019s tweeted<\/a> that after a discussion with the consignor 0x650d, the event was officially canceled. \u201cFollowing discussions with the consignor, tonight\u2019s Punk It sale has been withdrawn. Thank you to our panelists, guests, and viewers for joining us,\u201d Sotheby\u2019s said. Then 0x650d retweeted an older tweet and said that he decided to keep the stash of Cryptopunk NFTs. 0x650d said<\/a>:<\/p>\n Nvm, decided to hodl.<\/p>\n<\/blockquote>\n In another tweet<\/a>, 0x650d shared a meme making fun of the situation with the luxury auction house Sotheby\u2019s. Others didn\u2019t think the meme was funny and 0x650d received criticism<\/a> for pulling the auction away from Sotheby\u2019s. \u201cBro you suck,\u201d one individual wrote<\/a>. \u201cStop acting like you rugged Sotheby\u2019s. LMAO \u2014 You made everyone look stupid. Even the press here is laughing at us because of you\u2026 Stop hiding the guilt behind dumb ass memes.\u201d Another individual agreed and said<\/a>:<\/p>\n Well said @farokh. [The] sale would have been [a] big win for NFTs in general. Seems odd to just pull the auction at the eleventh hour. Obviously, something\u2019s amiss we\u2019re not being told.<\/p>\n<\/blockquote>\n Meanwhile, besides the memes<\/a> 0x650d shared, the community does not know exactly why he decided to pull the Cryptopunks NFT sale. It\u2019s quite possible that 0x650d\u2019s stash became worth far less than he expected when the Cryptopunks NFT auction was first announced. Cryptocurrency market prices, including the values of non-fungible token digital collectibles, have dropped significantly in value against fiat currencies since the escalated geopolitical tension<\/a> between Russia and Ukraine<\/a>.<\/p>\n At the time of writing, metrics from dappradar.com indicate<\/a> that 0x650d\u2019s stash of NFTs are estimated to be worth $22.16 million. The value is a lot less than the wallet\u2019s net worth when the auction was first announced. Currently, the 0x650d wallet owns approximately 136 NFTs from 18 different NFT collections. 0x650d\u2019s Twitter account profile has an etherscan verification message<\/a> that is signed and verified, proving that 0x650d is indeed the owner of the 0x650d ethereum address holding the 136 NFTs.<\/p>\nCryptopunks Owner Decides to Keep 104 NFTs, Sotheby\u2019s Forced to Cancel \u2018Punk It\u2019 Auction<\/h2>\n
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NFT Supporter Says Canceled Auction \u2018Made Everyone Look Stupid\u2019<\/h2>\n
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