NFTs are unique crypto assets that cannot be exchanged for their equivalent. They are token units of data stored on the blockchain to keep an immutable record of ownership of all NFTs, including their transaction history while they are in circulation.
The genesis of NFTs began with Kevin McCoy, who minted “Quantum,” the first NFT, in 2014. By 2017, mainstream NFTs had taken off, with the Ethereum blockchain being the center of the NFTs instrument. One of the first NFTs to be minted on the Ethereum network is CryptoPunk NFTs.
What are CryptoPunks NFTs?
Kryptoponics It can be considered the first of the NFTs on the Ethereum blockchain. The group was created by Larva Labs, a software company co-founded by two former Google employees, John Watkinson and Matt Hall, in 2017.
At first, the duo wanted to create mobile apps or video games, but they were determined to develop software that could generate thousands of different characters that would encapsulate a set and revolutionize the digital arts. The characters created later became a model for other NFT projects.
How many CryptoPunks are there?
The CryptoPunks collection consists of 10,000 unique avatars with different and mixed themes or themes, which define their own rarity.
CryptoPunks NFTs were released on June 23, 2017. These collectibles developed the idea of profile pictures – PFPs – as a digital collectible item that was later adopted by successful NFT projects. Each NFT in this set is an avatar or PFP that can be used as a profile picture on social media like Twitter, Discord, Telegram, Instagram, Whatsapp, etc., or in the Metaverse.
How did people originally get CryptoPunks?
At the launch of the project in June 2017, 9,000 Punks were given free to any enthusiast or investor willing to offset the gas fee. The remaining 1,000 points are reserved for Larva Labs. Punk NFTs depict male and female monkeys, zombies, and aliens.
Ape, Zombie and Alien characters are more valuable than a human character. Just 24 CryptoPunks Are Monkeys88 zombies, 9 aliens, 6,039 males, and 3,840 female villains.
Each piece is a 24 x 24 pixel image that can display a combination of 87 unique attributes such as earrings, hats, necklaces, pilots’ helmets, plug braids, hair, etc. The largest number of traits a single Punk can possess is seven, and only 8348 He has this. She has a big beard, buck teeth, earrings, classic shades, top hat, mole, and cigarette. Most villains have two or three traits, while some don’t.
according to Queen Gekkoas of August 25, CryptoPunks has a market capitalization of 674,432.55 ETH – $1,158,215,565.49 – at a minimum price of 67.45 eth (about $115,833.14 at the time of writing) – Total assets are 9,999 with 3,585 unique owners.
How do you get CryptoPunks?
Since all Punks have been claimed since 2017, they are only available in markets like rareAnd the open sea, etc. To buy NFTs in the markets, you must have a non-custodian crypto walletsuch as MetaMask, Coinbase or Trust Wallet, and buy or send ETH to the wallet.
Then you can connect your wallet and buy from Larva Labs website Or use your wallet to register in the markets to buy. Note that market-bought puns are wrapped, for example, the standard ERC-721 token, not custom tokens. However, ERC-721 can be reversed back to its original custom nodes.
Before buying CryptoPunks, it is essential to pay attention to the background color of Punks because each color carries the market condition of the punks on it.
- Bad guys with red background show that they are available for sale.
- Bad guys with blue background are not for sale and have no active bids.
- Villains with purple backgrounds have active bids on them through the auction.
- The green background coiled bugs are listed for sale on ERC-721 Markets.
Before purchasing any Punk, be sure to check its attributes as this will reveal its rarity and hint at a potential investment opportunity. The most expensive villain is # 5822which was sold at $23.7 million on February 12, 2022and as of August 25, 2022, the highest bid – $234,877 – has been made. #5526.
CryptoPunks had total sales of $1.51 billion, and there are no ownership fees to Larva Labs on any secondary sales made by investors.
Celebrities who own CryptoPunks:
- Odell Beckham Jr.
- Jay Z
- Gary V
- Logan Paul
- Steve Aoki
- Jason Dorello
- Serena Williams
- Alexei Ohanyan
- Mark Cuban
- Heidi Klum and so on.
Unknown to many NFT fans, CryptoPunks are Custom Contract NFTs; They did not adopt the standard token ERC-721 or ERC-1155 because neither was in place at the time. But you can wrap Punks in ERC-721 tokens if you want to sell them on NFT Markets. Although ERC-721 was introduced in 2017, CryptoPunks inspired Dapper Labs, which introduced ERC-721, while ERC-1155 was introduced in 2019.
CryptoPunks are real OG collectibles
CryptoPunks are the OG of NFTs on the Ethereum blockchain. However, in March 2022, Larva Labs, owner of BAYC, was acquired by Yuga Labs. Immediately after the acquisition, CryptoPunks rose from 55 ETH to 70 ETH.
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*All investment/financial opinions expressed by NFT Plazas are derived from the personal research and experience of our site administrators and are intended to be educational materials only. Individuals have to do a complete research on any product before making any kind of investment.
Technical writer, passionate about all things blockchain and the decentralized world.