TechFlow news, on September 12, according to Decrypt, CryptoPunk #2386 was acquired by a user through a "shotgun" method for 10 ETH (approximately $23,000), while the current highest offer for this NFT stands at 600 ETH (around $1.42 million). This rare event originated from an innovative practice during the peak of the NFT market. In 2020, the owner of CryptoPunk #2386 fractionalized it into 10,000 ERC-20 tokens via a platform called Niftex, enabling more investors to own partial ownership. The underlying NFT was locked on the Ethereum blockchain, and investors could freely trade these fractional tokens. However, after the Niftex platform shut down, trading these fragments became extremely difficult.
According to anonymous smart contract developer @0xquit, Punk #2386 ultimately had 257 fragment holders. Since the smart contract remains active on the blockchain, an unidentified buyer was able to trigger the contract's buyout function. @0xquit explained on Twitter: "Any shareholder can initiate a 'shotgun' acquisition by proposing a price; if no one counters within 14 days, they can purchase the asset." The buyer launched an offer on August 28 to acquire each fragment at 0.001 ETH (totaling 10 ETH). Prominent NFT investor and founder of 9dcc, Gmoney, stated that he attempted to block the transaction but failed due to miscalculating the bid amount.
