Why Did this Investor Sell Pudgy Penguin NFT for just $175?
Highlights
- Investor sells 5 Pudgy Penguin NFTs worth $3.7M for just $175.
- Speculation is building around possible tax scam and outside deals, but the real reason remains unknown.
- Additionally to the NFT collection, Pudgy Penguin is also gaining traction in the crypto industry with the PUDGY meme coin.
The Pudgy Penguin NFT series is one of the most demanded non-fungible tokens in the market, which is why they also have a decently high value. However, the people were speechless when an investor sold millions worth of NFTs for just $175. The user left people in both the non-fungible token industry and crypto industries curious, and some even created controversy about it.
Investor Sold 5 Pudgy Penguin NFT For Just $175
According to ApeVentureVCs founder XEER, an anonymous investor, has solved five of the Pudgy Penguin NFTs at just $175, leaving people in shock. This is because the same tokens would have been worth millions, as a single Pudgy NFT costs 21 ETH or $116.9k at the current Ethereum price, not the $35 the person has sold.
Further, XEER cleared that the investor has sold Pudgy Penguins #5222, Pudgy Penguins# 5996, Pudgy Penguins#2009, Pudgy Penguins#7743, and Pudgy Penguins#1550 NFT collections, collectively for just $175. Interestingly, the NFT trader is now facing $3.7M of losses. In his X post, XEER mentioned that the person must have mistaken 35 USDC for 35 ETH. Interestingly, curiosity is increasing among the non-fungible token and crypto community.
People Say It Is a Tax Scam
As the person is anonymous, there is no clarification as to why the investor has sold his millions of Pudgy Penguin NFT for this low. However, some community members commented that this might be a tax scam, as no one could understand why someone would make this mistake.
Out of these people, someone suggested that the person must have negotiated outside the market, which is why he sold at low to avoid taxes. Another called it a tax invasion, as the person will rebuy the same non-fungible tokens again. However, still, the motive is still unclear.
Tax evasion. These kind of sales should be reversed or instant canceled.
— Bitcoin Runes Hub – $DOG 🧡 OKX (@Bitcoinruneshub) December 31, 2024
What’s In There For You?
Pudgy Penguin is a famous NFT token collection that was launched in 2021. Over the years, it has grown in popularity and even became one of the most traded collections. This is why the recent Pudgy Penguin NFT sale has left people speechless, as investors sold 5 Pudgy NFTs for just $175 instead of $3.7M. Interestingly, a crypto token called Pudgy Penguin (PUDGY) has gained additional traction in the crypto market. More importantly, it trades at only $0.03286, which is more reasonable for beginners looking to connect with the NTF collection without investing millions. People can also look for opportunities where investors sell at just $175, as this investor did. However, careful measures should be taken before investing in crypto and non-fungible tokens.
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