Chain CEO Deepak.eth Is Selling His NFT Portfolio Due To FTX Failing

Chain Protocol CEO Deepak.eth is selling his NFT collection owing to the FTX fallout. The sale comes following an 8-digit dip in his Chain Protocol project on FTX. The collection carries top of the line NFTs including 10 CryptoPunks and 7 Bored Apes. Read on to learn how you can bag these NFTs.

What NFTs Has The Chain CEO Placed On Sale?

The fundraising campaign sees elite blue-chip NFTs on sale. The Chain CEO’s official Twitter has announced the sale of the NFTs. He states that the NFTs will be sold to the highest bidder or be placed in a fractional DAO constituting 80% ownership for 8,000 ETH to the community. Deepak also said that the NFT funds aims to solve the companies liquidity problems, owing to millions and millions of dollars locked on FTX.

The NFT collection includes multiple CryptoPunks, Bored/Mutant Apes, Tiffany NFTs (NFTiff), Otherside Otherdeeds, and even a Superboys Mint Pass. The collection surprisingly also includes the world record holding “Blue Bandana” CryptoPunk #5822. The last sale price for this NFT went for a whopping 8000 ETH. Deepak has also listed an ultra-rare Golden Fur BAYC #282.

On Twitter, Deepak also reassured his position stating “We still have a large treasury to operate @Chain (excluding XCN). But it sucks, because we trusted FTX and SBF. Our recent deposit and trade on FTX was done in confidence that he wouldn’t be making misrepresentations like how he did publicly of assets being safe.” The FTX plague has also affected other huge crypto organizations as well. Earlier, BlockFi, the premier crypto lending platform also announced a pause on withdrawals.

More About Chain Protocol

The Chain Protocol is a blockchain service provider on the Ethereum blockchain. It helps users to manage, implement, and control crypto blockchains. The Chain protocol helps financial organisations set up blockchain services and processes.