CryptoPunks

What are CryptoPunks?

CryptoPunks are a series of 10,000 randomly generated pixel-based avatars tokenized as NFTs on the Ethereum blockchain. They are one-of-a-kind digital items, and holding a CryptoPunks NFT means you are the sole owner of a unique avatar.

History

CryptoPunks were released in 2017 by Larva Labs, a development studio. Initially, they were released for free, but later, Larva Labs held onto the remaining 9,000 NFTs, which were sold to Ethereum wallet owners.

Demand and Price

The demand for CryptoPunks skyrocketed in 2021, with prices reaching over $1 million in some cases. The secondary market value for CryptoPunks has also increased, with Christie’s and Sotheby’s auctioning off NFTs, and Visa becoming the first financial services giant to own a CryptoPunk.

Characteristics

• One of the oldest NFT projects around
• First set of randomly generated profile pictures
• Inspired a rising tide of profile picture NFT sets
• High-profile owners, such as Jay-Z and Gary Vaynerchuk
• Differentiators, including alien and ape designs