What are Cryptopunks?

Cryptopunks is a collection of 10,000 unique pixelated characters each 24x24px minted on the ethereum blockchain and is considered to be one of the earliest examples of NFT on the ethereum blockchain. Cryptopunks was released in 2017 by LarvaLabs, the team consisting of Canadian software developers Matt Hall and John Watkinson

Cryptopunks was the inspiration for the ERC-721 standard which consists of digital art and collectibles. The cryptopunks are all generated using an algorithm that makes them unique and only 10,000 were created which makes them scarce too, thereby making them valuable.

When cryptopunks were released, they were free to claim and anyone with an ethereum wallet could claim it hence all 10,000 punks were claimed really fast and now can only be purchased which have been put up for sale on marketplaces.People can list, buy, sell, bid etc using the marketplace.

The cryptopunks differ from each other in the character color, traits, and attributes like Alien, Ape, Zombie, Male, and Female. there are 6,039 males and 3840 female punks they also differ on the basis of hair color, hats, beards, etc.

It’s quite surprising to know that these 24x24px characters which were once free to claim are now being sold for millions of dollars. As of now, there have been around 11,817 sales amounting, close to $1 billion, and the lowest priced punk is available for $155,000.

How to buy a cryptopunk?

Head over to Larva Labs website and keep the required ether in your metamask wallet. Once the wallet is connected to the website you will find options to bid, buy and sell the punks.

top cryptopunks
Top Sales

Is it worth buying a cryptopunk?

Cryptopunks is currently one of the most talked-about topics in the NFT sector, this hype has managed to give these punks a quick price boost from few thousand to millions. Although it might not seem worth paying millions for few pixels of jpegs, people have managed to make quick bucks by buying and selling their punks during this hype. Eventually, it’s up to the people, at what price they would want to buy and sell, and the rarity of the product which decides the price of the product. As of now, cryptopunks are worth millions and they are here to stay.

Conclusion-

Cryptopunks can be considered as an excellent example of the endless opportunity the NFT industry would bring to the artists and how digital assets would be traded in the near future. The rare characteristic of assets would eventually give them the value they deserve and would be traded in a decentralized manner which is the need of the hour.