Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto NFT

CryptoPunk NFT bid funded with 527,000 once worthless testnet ether tokens

News Room by News Room
March 12, 2023
in NFT
Reading Time: 1 min read
0 0
A A
0

www.theblock.co

09 March 2023 19:18, UTC

  

Reading time: ~2 m

An NFT buyer swapped testnet ether tokens — that are supposed to be worthless — for ETH, which was then used to buy a CryptoPunk NFT.

CryptoPunk #9682 was bought for 72.72 ETH ($111,600) earlier Thursday. On-chain data show the buyer swapped 527,281 goerli ether for ETH to fund the purchase.

Goerli is an Ethereum test network, or testnet. Developers use testnets to run tests on their smart contracts or applications before deploying them on the main network.

Tokens on a testnet are supposed to be free because they typically don’t have market value. Goerli ETH, like other testnet tokens, should come from faucets, websites that provide small number of tokens to users for free.

A shortage of goerli ether has, however, created a situation in which developers began to purchase the testnet token. This has created a market for goerli ether with some holders able to swap then for actual ETH.

The emergence of a monetized testnet market has led Ethereum developers to state that they will gradually sunset goerli. For now, 1 goerli ETH is worth $0.23 and has traded as high as $1.69.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

NFTs are 94% worthless and also up over 52,000%
NFT

NFTs are 94% worthless and also up over 52,000%

September 27, 2023
Legal dispute around Milady NFTs accelerates with Delaware countersuit
NFT

Legal dispute around Milady NFTs accelerates with Delaware countersuit

September 26, 2023
NFT Brand Pudgy Penguins Debuts Toy Collection in 2,000 Walmart Stores
NFT

NFT Brand Pudgy Penguins Debuts Toy Collection in 2,000 Walmart Stores

September 26, 2023
Founder’s Packs for WAGMI Games Arriving on OpenSea -September 27th
NFT

Founder’s Packs for WAGMI Games Arriving on OpenSea -September 27th

September 26, 2023
‘Hoofster’ NFT-Backed Shoe Hits AVAVAV’s Milan Fashion Week Runway
NFT

‘Hoofster’ NFT-Backed Shoe Hits AVAVAV’s Milan Fashion Week Runway

September 26, 2023
Bored Ape Yacht Club Teases BAPE Collab
NFT

Bored Ape Yacht Club Teases BAPE Collab

September 25, 2023
New Research Reveals 95% of All NFTs Are Worthless
NFT

New Research Reveals 95% of All NFTs Are Worthless

September 25, 2023
An interactive NFT storytelling venture
NFT

An interactive NFT storytelling venture

September 25, 2023
30-Day Plunge Sees 34% Decline Amidst Chilling Digital Collectible Sector 
NFT

30-Day Plunge Sees 34% Decline Amidst Chilling Digital Collectible Sector 

September 24, 2023

Discussion about this post

Latest News

Binance to Leave Russia With Business Sale to Crypto Exchange CommEx

Binance to Leave Russia With Business Sale to Crypto Exchange CommEx

September 27, 2023
USD/JPY struggles for a firm direction, stuck in a range around 133.00 mark

USD/JPY: High chance of intervention but only after a break above the 150 level – MUFG

September 27, 2023
CERAWEEK-US clean energy ‘carrots’ could put Europe behind in decarbonization race, execs say

IATA head says price of sustainable fuel likely to remain high

September 27, 2023
Brands look to China’s tropical duty free island paradise for consumer comeback

Renaissance Macro Research points to potential bearish shift in U.S. stock market

September 27, 2023
Marriott sees 2023 EPS growth of up to 29%

Marriott sees 2023 EPS growth of up to 29%

September 27, 2023
ADVERTISEMENT

Popular

  • Fed’s Williams: Expects inflation to decline to around 3.25% this year

    Fed Preview: Forecasts from 15 major banks, a pause, but the end of rate hikes?

    0 shares
    Share 0 Tweet 0
  • Galaxy Digital Eyes European Expansion With New Regional CEO

    0 shares
    Share 0 Tweet 0
  • Former Alameda Engineer Exposes Firm’s Role in Bitcoin’s 87% Plunge in 2021

    0 shares
    Share 0 Tweet 0
  • Rite Aid plans to shut down hundreds of stores in bankruptcy – WSJ

    0 shares
    Share 0 Tweet 0
  • Vitalik Buterin Moves More Ethereum, ETH Price Drops Below $1600

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • Binance to Leave Russia With Business Sale to Crypto Exchange CommEx
  • USD/JPY: High chance of intervention but only after a break above the 150 level – MUFG
  • IATA head says price of sustainable fuel likely to remain high

Trending Topics

AI Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Interview Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.