CryptoPunks are becoming increasingly popular. Nowadays, business models, celebrities, and social influencers are promoting CryptoPunks on a large scale. It also allows NFT enthusiasts to trade (buy/sell) punk-specific digital assets on the marketplace platform.
Let’s Delve into The Punk World!
Non-fungible tokens, which allow content creators to share their creations worldwide, are the delicate inclinations of the decentralization domains. NFTs are known for their ability to access various domains, including art, antiquities, domains, metaverse, games, and sporting goods. NFTs are beginning to find their place in current Crypto trends by leveraging a variety of chains.
Larva Labs created CryptoPunks, a two-person development team specializing in mobile games and utilities to web infrastructure, digital design, and art. The team created a pixelated character synthesizer based on the London punk scene and cyberPunk films and novels.
Three (3) never-seen-before Specialities of CryptoPunks
1) Profile Picture (PFP) project
One of the main sources of demand is that CryptoPunks is one of the oldest NFT projects and the first set of randomly generated profile pictures to connect with the crypto community. It’s also one of the first NFT projects on the Ethereum blockchain. It started a few days before CryptoKitties – a popular cat-breeding blockchain game/NFT project. It has value because it is one of the first attempts of its kind.
2) Limited Edition
Only 10,000 CryptoPunks will ever exist. The scarcity is palpable to collectors. Some CryptoPunk portraits may be more valuable than others based on their attributes. Let me break the collection down: 9 aliens and 24 apes combine with 44 beanie-wearing with 128 rosy cheek punks. You can purchase these punks from an NFT marketplace like CryptoPunks to store and drive value. With supply fixed, NFT investors must decide whether demand will continue to rise or a critical threshold has been reached.
3) Human-like Resemblance
On NFT marketplaces, the plainer-looking CryptoPunks are close to the market floor in terms of asking price, and most CryptoPunks resemble humans with varying characteristics and accessories.
Users can buy, sell, and trade NFTs with other members of the CryptoPunks community on the CryptoPunks marketplace. Anyone with an Ethereum wallet could claim these NFTs for free at first. CryptoPunks fans can now purchase them from other CryptoPunks owners.
Well, that begs this question:
What Are The Major CryptoPunk Sales?
Because there are only 88 zombie CryptoPunks in existence, the entire NFT community takes notice when one is traded. The $6.6 million price tag was set on CryptoPunk #8857 to attract attention on its own, but the hype surrounding the transaction stemmed from a larger trend involving zombie Punks at the time.
One of nine alien punks – CryptoPunk #5822 – sold for a whopping 8,000 ETH ($23.7 Million) recently. The CryptoPunks Bot took to Twitter to announce the record-breaking punk sale.
On March 11, 2021, CryptoPunk #7804 was one of two major alien Punk sales. The 4,200 ETH price tag, which was purchased in ETH for the equivalent of $7.5 million at the time, would be worth nearly $17 million by the end of 2021.
Although the sale of CryptoPunk #4156 did not achieve the highest ever Punk price, it was without a doubt the most significant Punk transaction of 2021. It felt like the end of an era within the NFT community, as bandana ape #4156 had become synonymous with the personality of prominent NFT influencer and builder Punk4156.
Why – CryptoPunks like NFT Marketplace?
CryptoPunks are non-fungible tokens with collectibles that are distinct from other types of artwork. These punks are known as pixelated arts, and their algorithmically assigned characteristics distinguish them from one another.
To be more specific, when creating an avatar in a game, you can customize it and create unique avatars. They can purchase the required attributes and characteristics, but they are not limited to a single person. It allows anyone to create an avatar similar to one that already exists. In the case of the pixelated art punks, these are completely different.
Because NFTs completely eliminate the presence of third-party intermediaries and were built on the decentralized blockchain network to provide users with a smooth transaction experience, CryptoPunks is expected to dominate the NFT world in the future, like all these years (since 2017).