The founder of the Chain blockchain infrastructure company, who goes by the internet pseudonym Deepak.eth, took to Twitter to announce the sale of their nonfungible token (NFT) collection.
Deepak.eth tweeted that the collection will either be sold to the highest bidder or else placed in a “fractional DAO” in which they would sell 80% of the ownership. According to the Chain founder, the collection is going for 8,000 (ETH), which is roughly $10, 258,720 million at the time of writing.
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
The collection includes high ticket NFTs such as Tiffany Punks which will include the NFTiff and physical pendants, some Bored Ape Yacht Club characters (BAYC) and Mutants, among others.
On Nov. 10, Deepak.eth began a thread on Twitter, which pointed the finger at the recent FTX turmoil as the reason for dipping into the liquidity via their NFTs.
They said although the company cut ties with Alameda in the summer, it continued to keep holdings in FTX and recently made a major deposit into the exchange. According to Deekpak.eth, those funds are stuck and waiting for withdrawal, which led them to dig into their other digital assets.
I will, however, start to access liquidity through my NFT holdings, with the most likely scenario being that I will be putting them into a fractional DAO, including Alien Punk 5822.
(7/8)
— Deepak.eth ⛓ (@dt_chain) November 10, 2022
Despite recent trading volumes of popular collections such as Bored Ape Yacht Club (BAYC) hitting lows, NFTs in these series have previously seen market values into the millions.
The community on Twitter responded to the listing calling it the “holy grail” of NFT collections:
It’s the Holy Grail！
— Tony B (@Bai325Tony) November 11,…
