The recent case of the sale of CryptoPunk #3100 is emblematic of the changed climate among investors. Purchased at the time for 16 million dollars, it has now been resold for “only” 4,000 ETH, marking a loss of more than 10 million dollars.
A sensational sale in the NFT sector: the collapse of the value of CryptoPunk #3100
It was 2021 when the CryptoPunks dominated the NFT scene, embodying one of the most acclaimed use cases in the recent history of cryptocurrencies. The famous avatars generated by Larva Labs, 10,000 unique pieces created in 2017, were being traded at astronomical figures, making them among the most desired digital collectible assets on the market. Yet, in 2025, the scenario appears profoundly changed.
The CryptoPunk #3100 is one of the rarest NFTs in the collection. Characterized by an “alien” style – present in only 9 out of 10,000 – and a headband, a distinctive feature in just 406 punks, its value has always enjoyed a strong exclusive perception.
However, the selling price, although still well above the so-called floor price (the current minimum selling price), turned out to be significantly lower compared to the previous market value. With Ethereum down about 60% compared to the previous year, the loss in terms of declared value in US dollars has become even more pronounced.
When compared to the current floor price of the collection – around 42 ETH, or about 65,000 dollars – the sale of #3100 still appears as an extraordinary case in terms of value. However, the drastic reduction compared to the amount fetched in the past tells another truth: the NFT market is in free fall, and even rare pieces are not immune to this decline.
NFT: from global mania to bear market
The numbers speak clearly. After reaching the peak of popularity in 2021, the trading volume of non-fungible tokens has undergone a constant contraction. Overall sales at the beginning of April 2025 stopped around 58 million dollars, returning to the levels recorded at the beginning of 2021, before the explosion of the phenomenon.
Over the years, numerous collectors and investors have pursued NFTs for reasons ranging from a passion for digital art to more aggressive financial speculation. But with the cooling of the market and the intrinsic volatility of cryptocurrencies, many are now reassessing their choices and often liquidating at lower figures just to exit the investment.
What happened to the prestige of the CryptoPunks?
Despite the general market crash, the CryptoPunks maintain a certain aura of prestige. According to the data collected by CryptoSlam, five of the ten most expensive NFTs ever sold come from this collection. At the peak of the phenomenon, some specimens reached the extraordinary figure of 56 million dollars.
The latest case, that of CryptoPunk #3100, was the third highest value NFT ever recorded. But now its owner – who remained anonymous behind a wallet address – has chosen to exit, even accepting to lose an amount greater than that invested by millions of investors worldwide.
What stands out is the decision to sell at a loss. A signal that many interpreters suggest as a change of sentiment collective towards NFTs: from an alternative safe haven and status symbol, they have potentially become a burden to get rid of before the market drops further.
The exception that proves the rule: rarity still precious
Despite the air of distrust and the downsized numbers, some exceptions continue to shine. Ultra-rare NFTs like #3100 can still attract high-profile purchases, albeit at reduced prices compared to the past. The rarity of the features – in this case, being an alien and the headband – makes these specimens appealing collectibles for a niche determined to preserve the symbolic value of their bull and bear portfolio.
In a market divided between faith and disillusionment, those who remain therefore focus on quality and uniqueness, while the masses begin to distance themselves from what just a few months earlier seemed like an unstoppable technological revolution.
A look at the future of NFTs
Whether investing in NFTs is still a valid strategy or not is still an open question. The crash of CryptoPunk #3100 could represent a simple market adjustment after the initial euphoria, or the symptom of a lasting cooling towards the very concept of digital ownership on blockchain.
It is certain that the allure of NFTs, at least for now, has lost much of its luster. However, this does not mean it is the definitive end: as often happens in emerging technologies, bull and bear alternate, paving the way for new forms of use and more mature models.
Time will tell if NFTs will make a structural comeback or remain a passing phenomenon of the crypto past. In the meantime, the sale of CryptoPunk #3100 remains etched as one of the symbolic events of this transitional phase: a reminder, for both old and new investors, of the risks and promises of the digital world.
