CryptoPunk #3100, a popular NFT once purchased for over $16 million in March 2024, was sold this week for just $6 million (4,000 ETH), marking a loss of around $10 million. Although the ETH amount dropped only slightly, the significant fall in Ethereum’s price deepened the dollar loss. This sale highlights the broader downturn in the NFT market, with decreasing interest, falling prices, and reduced liquidity. Once icons of digital art, collections like CryptoPunks are now struggling to maintain their value, especially as the crypto space shifts focus to other sectors like real-world assets and AI.