NFTs are unique crypto assets that cannot be exchanged for the same. They are units of data stored on the blockchain to maintain an immutable record of ownership of all NFTs, including their transaction history as they are traded.
The genesis of NFTs begins with Kevin McCoy, who issued the first NFT called “Quantum” in 2014. In 2017, NFTs began to win, with the Ethereum blockchain becoming the hub for making NFTs. One of the first NFTs created on the Ethereum network was CryptoPunk NFTs.
CryptoPunks What are NFTs?
Cryptopunks It can be considered the flagship of NFTs on the Ethereum blockchain. The collection was created by Larva Labs, a software company founded in 2017 by two former Google employees, John Watkinson and Matt Hall.
At first, the two wanted to create mobile applications or video games, but they decided to develop software that can generate thousands of different characters, which includes a collection and improve digital arts. The characters created will later become models for other NFT projects.
How many CryptoPunks are there?
The CryptoPunks collection consists of 10,000 unique avatars that each express their own rarity with different and combined features or characteristics.
CryptoPunks NFTs were released on June 23, 2017. These sets of profile pictures – PFPs – were later adopted by NFT projects as collectible digital items. Each NFT in this collection is an avatar or PFP used as a profile picture on social media like Twitter, Discord, Telegram, Instagram, Whatsapp, etc., or in the Metaverse.
How did people first find CryptoPunks?
At the launch of the project in June 2017, 9,000 punkts were given free to any enthusiast or investor to offset the gas bill. The remaining 1,000 punks were reserved for the Larva Labs team. Punk NFTs feature humans – male and female – apes, zombies and aliens.
Ape, zombie and alien characters are considered more valuable than human characters. Only 24 CryptoPunks are monkeys.88 are zombies, 9 are aliens, 6,039 are male, and 3,840 are female punks.
Each piece is a 24 × 24 pixel image that can display a mix of 87 unique features such as earrings, hats, necklaces, pilot hats, pigtails, hair, and so on. The maximum number of attributes a punk can have is seven, and only that Punk8348 This has. He has a big beard, hip teeth, earrings, classic shades, a top hat, a mole and a cigarette. Most punks have two or three traits, some have none.
according to CoinGeckoIn the year As of August 25, CryptoPunks market cap is 674,432.55 ETH –$1,158,215,565.49– with a floor price. 67.45 ETH (approximately $115,833.14 at the time of writing) – and a total of 9,999 properties with 3,585 unique owners.
How do you get CryptoPunks?
As of 2017, all punks have been claimed, and are only available on such marketplaces Rare, OpenSeainter alia. To buy NFTs on the market, you must have a non-custodial account crypto walletsuch as MetaMask, Coinbase or Trust Wallet, and buy or send ETH to the wallet.
You can then link your wallet and shop from within. Larva Labs website Or use your wallet to register at marketplaces to shop. Punks bought in marketplaces are packaged, ie ERC-721 standard tokens, not custom punks. However, ERC-721 may revert to the original custom contract.
Before buying CryptoPunks, it is important to pay attention to the background color of the punks, as each color carries the market status of the punks on them.
Features of CryptoPunks
- Punks with red backs indicate that they are available for sale.
- Blue Backed Punks are not for sale and have no active bids.
- Purple-backed punks have active bidding on them.
- Green-backed punks are packaged punks listed for sale on ERC-721 marketplaces.
Before buying any punk, be sure to check its features as this will indicate its rarity and indicate a potential investment opportunity. It’s the most expensive punk. #5822Sold 23.7 million dollars on February 12, 2022And as of August 25, 2022, the highest bid was -$234,877–. #5526.
CryptoPunks have made $1.51 billion in total sales, and there are no royalties to Larva Labs on any secondary sales made by investors.
Famous People Who Own CryptoPunks:
- Odell Beckham Jnr
- Jay Z
- Gary Vee
- Marshmallow
- Logan Paul
- Steve Aki
- Jason Duralo
- Serena Williams
- Alexey Ohanian.
- Mark Cuban
- Heidi Klum and the like.
An interesting fact
Unknown to many NFT enthusiasts, they are CryptoPunks. Custom contract NFTs; Neither ERC-721 nor ERC-1155 accepted standard tokens because neither was in place at the time. But if you want to sell it on NFT marketplaces, you can bundle Panx into ERC-721 tokens. Although ERC-721 was introduced in 2017, CryptoPunks inspired Dapper Labs, which introduced ERC-721, and ERC-1155 was introduced in 2019.
CryptoPunks are the true OG collectors.
CryptoPunks are the OG of NFTs on the Ethereum blockchain. However, in March 2022, Yuga Labs –owner of BAYC– acquired Larva Labs. Immediately after the purchase, CryptoPunks rose from 55 ETH to 70 ETH.
Want more? Connect with NFT Plazas
Join the weekly newspaper
Join our Discord
Follow us on Twitter.
Like us on Facebook.
Follow us on Instagram.
*All investment/funding opinions expressed on NFT Plazas are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should thoroughly research any product before making any investment.
Technical writer, enthusiast for all things blockchain and the decentralized world.