Trader Earns $13 Million Selling NFT Collection

In a remarkable turn of events, a trader has amassed a fortune worth $13 million through the sale of items from an old NFT collection. This lucrative transaction has garnered significant attention within the cryptocurrency community and beyond.

Back in February 2021, a user under the pseudonym "OldSchoolCollection" acquired 10 NFTs from the Autoglyphs collection on the renowned marketplace OpenSea. Spending approximately $1.4 million on these tokens, the trader made a substantial investment. However, it was on February 19 that OldSchoolCollection's fortunes changed dramatically. Through the brokerage platform Fountain, they sold the same 10 NFTs for 5,000 ETH, equivalent to roughly $14.5 million at current market rates.

Autoglyphs (GLYPH) represent one of the pioneering ventures into generative NFT art, created by Larva Labs, the same entity behind the development of CryptoPunks. Each Autoglyph token is generated through code on the Ethereum network, making them unique digital assets. Larva Labs introduced the collection of 512 Autoglyphs in 2019 as part of a charitable initiative, with the initial token generation priced at 0.2 ETH. Notably, all Autoglyphs are on-chain tokens, with all necessary data for display stored on the Ethereum blockchain.

According to The Block, the trade volume of NFTs on the Ethereum network reached a yearly high in early February, surpassing $147 million for the week of February 4 to 11. This surge in activity highlights the growing interest and investment in the NFT space, with various projects experiencing significant momentum. Among these, Pandora (PANDORA), an ERC-404 token project launched in early February, and the Pudgy Penguins (PPG) collection have attracted substantial attention, with trade volumes soaring in recent days.

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