What is CryptoPunk NFT?
As one of the earliest series as a designation for the Ethereum blockchain, Cryptopunk NFT is well-known as a pioneer in the field of NFTs.
Founders John Watkinson and Matt Hall, better known as Larva Labs, are the foundation CryptoPunks during the height of the 2017 crypto boom.
For Wilkinson and Hall, the timing of their work was perfect. The crypto-libertarian Bitcoin movement shifts into a new direction: decentralized finance (Defi). Defi aims to eliminate the need for financial intermediaries to transfer money while also making money through speculative initial coin offerings (ICOs).
It was all in dedication for Ethereum, the new blockchain that is the foundation of the smart contracts that allow complex and immutable financial transactions to be record and execute the blockchain.
According to Christie’s, an anti-establishment spirit permeated early blockchain development, which sold nine of Larva Labs’ CryptoPunk collection on May 11. The auction house said before the sale.
More than double the cryptopunk price of $7 million to $9 million estimated, Christie’s sold the nine CryptoPunk prices for nearly $17 million.
As no two CryptoPunks are exactly alike, each NFT is randomly generating various attributes, making it possible for each one to be unique.
Did You Know? Cryptopunk NFT Were Initially Distributed For Free
This popular NFT project had its genesis in an experiment, an interesting side note.
After developing a software program in 2017, Larva Labs co-creators Matt Hall and John Watkinson created thousands of pixelated images of misfits and nonconformists.
The inspiration is from the 1970s London Punk movement, the program and the avatars are in use in a smartphone app or game.
But they had no idea that their small project would lead to the massive NFT industry as we know it today.
There is no ERC-721 standard at the time, so 10,000 CryptoPunks are available and on website of the Ethereum blockchain.
When CryptoPunks was first released, the NFT collection was available to anyone with an Ethereum wallet. Punks are quickly to be out the market, leaving the remaining 9,000 for the developers to work with.
In 2020, the NFT market was booming. The demand for digital images with ownership rights on the blockchain soared, and CryptoPunks became the most sought-after artists.
OpenSea and other secondary NFT marketplaces can see their values as they rise and sold for millions. Some of the world’s most prestigious auction houses, such as Christie’s and Sotheby’s, participated in the sale. This attracted investors like Jay-Z and Gary Vaynerchuk.
On OpenSea alone, CryptoPunks has generated over $2.5 billion in cryptopunk prices in total traded volume as of January 2022. As mainstream users discover the NFT space, their popularity and market value will only rise.
Types Of CryptoPunk NFT
Humans, zombies, aliens, and apes are in feature of the CryptoPunk collection. Because of this, a CryptoPunk NFT is only available in minimal quantities.
In addition to the 3,840 female Punks and the 6,039 male Punks, the cast includes nine aliens, twenty-four apes, eighty-eight zombies, three thousand eight hundred and forty-four female Punks, and six thousand three hundred and thirty-nine male Punks.
To honor the project’s founders, a in a limit of 1,000 CryptoPunk coins are set aside for the Dev Punks. CryptoPunk #8348 is one of the most sought-after pieces in the CryptoPunk collection because it has seven essential attributes.
How To Buy A CryptoPunk NFT?
Several NFT marketplaces, including OpenSea, the largest secondary NFT marketplace, display all of the CryptoPunks available, as with other non-fungible tokens.
However, only the Larva Labs website offers CryptoPunk for sale to interested parties. When it comes to selecting an avatar, the company provides various tools, including a price tracker that shows all of the available Punks and their respective prices.
There are a few things you’ll need to do before getting started. Larva Labs’ official website is where you can bid on, buy, and sell CryptoPunks once you have been granted access to the platform and the necessary permissions.
The background color of each CryptoPunk NFT indicates its current status when you bid, buy, or sell them on the marketplace.
A CryptoPunk with a blue background is not for sale, and there are no active bids. A CryptoPunk NFT with a red background indicates that the owner has put it up for sale, and a purple background indicates a current bid on the NFT.
Most Expensive Cryptopunk NFT Ever Sold In 2021
CryptoPunk #3100
As of right now, CryptoPunk #3100 is the most expensive headband. The CryptoPunk, which sold for an astounding $7.58 million in March 2021, is widely regarded as a watershed moment for the NFT movement.
As one of the nine aliens, punk is building a legacy in the New York City underground punk scene.
A new record has been set by the owner of #3100, who has listed the punk for sale at $91 million. If the punk sells, it will go down in the annals of the NFT as another milestone achievement.
CryptoPunk #7804
Alien punk #7804 is one of only nine and now the second most valuable punk, sold in March 2020 for $7.57 million.
The hipster-looking punk’s forward-facing cap, tiny sunglasses, and signature pipe increase the rarity of the hipster-looking punk. All of these traits are shared by fewer than 400 other punks worldwide.
“I’m sitting on a digital Mona Lisa,” proclaimed Dylan Field, the Figma design and prototyping platform CEO.
CryptoPunk #8857
On September 11, 2021, CryptoPunk #8857 was finally sold for $6.63 after numerous multi-million dollar offers in the summer of 2021.
The zombie punk’s wild hair and 3D glasses raise its rarity even further. As a bonus, the identifying number features the lucky double 8’s, popular among Chinese investors.
There is no way to tell who the buyer and seller of #8857 are.
CryptoPunk #5217
Punk #5217, one of the 24 ape punks with inherent scarcity, sold for more than $5 million.
Unknown investors purchased the punk with the knit cap and gold chain. There has been less activity on the punk, but the money was moved to a wallet where there are other punks worth over $1 million.
CryptoPunk #8857
On September 11, 2021, CryptoPunk #8857 was finally sold for $6.63 after numerous multi-million dollar offers in the summer of 2021.
The zombie punk’s wild hair and 3D glasses raise its rarity even further. As a bonus, the identifying number features the lucky double 8’s, popular among Chinese investors.
There is no way to tell who the buyer and seller of #8857 are.
CryptoPunk #5217
Punk #5217, one of the 24 ape punks with inherent scarcity, sold for more than $5 million.
Unknown investors purchased the punk with the knit cap and gold chain. There has been less activity on the punk, but the money was moved to a wallet where there are other punks worth over $1 million.
CryptoPunk #7252
CryptoPunk #7252 is one of the 88 zombie NFTs in circulation, sporting a chinstrap and an earring.
It sold in August for $5.33 million during a flurry of interest from Chinese investors and businesses eager to get their hands on this valuable new asset class.
CryptoPunk #6275
Zombies Punk #6275 was one of 88 zombie punks whose artwork sold for more than $5 million in September of 2021.
When purchased by NFT personality Pranksy, this punk is one of 526 bears and 528 mohawks.
After the purchase, Pranksy told his followers, “the number one rule in NFTs is always to remain liquid. Always.”
CryptoPunk #2338
Perhaps the best example on this list is Punk #2338. Initially purchased for $458 in November 2018, the NFT was later sold for over $4 million in August 2021 after being transferred to a wallet the following year.
With only #2338 in their wallet, the alien punk has not been seen in public since.
CryptoPunk #2140
CryptoPunk #2140 was formerly owned by Gary Vee and sold for $3.7 million in July 2021.
Second, it has small shades and a knitted cap, adding to its value. It is one of 24 “Ape Punks” among the 10,000 coins.
If Gary Vee owns the punk, the blockchain can prove and verify its ownership, making it even more valuable.
Vee’s purchase was the fourth-highest at the time, a testament to his faith in NFTs’ future, and the investor explained that he has “incredible confidence in this asset.”
CryptoPunk #8888
CryptoPunk is now worth $2.87 million after selling for an eerily appropriate price of 888.8 ETH.
Rareness-wise, #8888 is on the lower end of the spectrum, as it doesn’t have any exceptionally unique characteristics.
Nonetheless, investors are interested in it because of its identifying number, 88, which is considered a lucky number in Chinese numerology.
Coinciding with not one but two eighties in its name, CryptoPunk #8888 is sure to draw attention.
CryptoPunk #561
When CryptoPunk #561 went on sale on November 8, 2021, it was bought for 500 ETH ($2,383,510.01 USD)
Only 115 punks have top hats, and only 286 have 3D glasses, including our 3D-wearing hero.
Once sold for $1.04 million in August 2021 and $8,176 less than a year before this sale. This NFT’s value has increased by 29,009 percent in just over a year.
The CryptoPunk NFT In The Future
This movement is being led by CryptoPunks, which has attracted several high-profile investors. Punks have gone from worth practically nothing to being worth several million dollars in just four years.
CryptoPunk and NFTs, in general, may or may not remain popular in the future. Still, one thing is sure: they are the oldest series of NFTs, dating back several years before Bored Apes Yacht Club and other well-known NFTs.
On the other hand, Larva Labs is constantly looking for new ways to improve the CryptoPunks project since their limited supply is one of the critical factors in their popularity.
To ensure the long-term viability of CryptoPunk’s investments, the software company revealed that it had placed all of its attributes and images on the Ethereum blockchain.
