In the weird wide world of non-fungible tokens<\/a> (NFTs), there\u2019s nothing quite as punk as owning a CryptoPunk<\/a>. A status symbol, a piece of internet history, and an unspeakably valuable asset, CryptoPunks may be the most important NFT collection there is.<\/p>\n As a project inexplicably intertwined with the growth of the Ethereum blockchain<\/a>, CryptoPunks is sometimes called the progenitor of NFTs. That\u2019s because nearly every large-scale project that came after it, even multi-billion dollar endeavors like the Bored Ape Yacht Club<\/a>, can be traced directly back to the CryptoPunk mold. <\/p>\n Yet, the true history and value of the CryptoPunks NFT project can seem a bit hazy \u2014 which has led to many (especially average consumers) wondering why someone would ever pay millions of dollars for a pixelated JPEG headshot. So to unravel the mystery, we spoke with prominent NFT collector and unrivaled CryptoPunks maximalist Gmoney<\/a> to create this ultimate guide to CryptoPunks. Let\u2019s get started.<\/p>\n Launched in June of 2017 by product studio Larva Labs<\/a> and acquired by Yuga Labs<\/a> in 2022, CryptoPunks is one of the first NFT collections ever on the Ethereum blockchain. It consists of 10,000 unique 24\u00d724 pixel art images that depict mostly humans (6,039 male and 3,840 female). However, there are several other unique types that are considered more valuable because of their rarity. These include zombies (88), apes (24), and aliens (9). <\/p>\n Each CryptoPunk can also exhibit a combination of 87 unique attributes. These are known as \u201ctraits\u201d and include hats, cigarettes, necklaces, earrings, eyepatches, and more. The London punk movement of the 1970s inspired the distinctive imagery and traits featured within the CryptoPunks collection.<\/p>\n The maximum number of traits a single CryptoPunk can have is seven. However, only one CryptoPunk (#8348<\/a>) exists with seven traits. It has a cigarette, earring, mole, buck teeth, classic shades, a top hat, and a big beard. CryptoPunks can also have zero traits, but most tend to have two or three. You can see how the number of traits impacts both the value and scarcity of a CryptoPunk NFT in the image below.<\/p>\n Unlike the recent projects<\/a> it inspired, CryptoPunks didn\u2019t initially set out to create a community. In fact, the team didn\u2019t even have a roadmap. The project was an experiment in creating generative characters conceived by Canadian software developers and Larva Labs founders Matt Hall and John Watkinson.<\/p>\n At the time, the NFT space was a far cry from the robust market we see today. As a result, CryptoPunks initially started out slow. Going live in June 2017, initially, Punks NFTs were given away for free to whoever wanted them. This was because a user would need an active Ethereum wallet to collect one, so supply was limited to those who were already invested in crypto.\u00a0<\/p>\n \u201cWhat makes CryptoPunks important is that a community grew around them organically,\u201d explained Gmoney in an interview with nft now. \u201cThere is a provenance around them because they are one of the first NFT projects on Ethereum \u2014 and they were free to claim at the start.\u201d<\/p>\n Gmoney says early supporters of CryptoPunks, such as now top-tier NFT influencers Pranksy<\/a>, 6529<\/a>, and Seedphrase<\/a>, \u201crealized earlier than most that digital ownership was going to be spreading more and more on-chain\u201d and that \u201cbeing able to own and claim stuff on-chain was going to be very valuable.\u201d<\/p>\n Since 2017, CryptoPunks has grown from a simple, niche internet fad into one of the world\u2019s more expansive and well-known NFT projects. Similarly, Meebits<\/a>, launched by Larva Labs in May 2021 and often referred to early on as \u201c3D CryptoPunks,\u201d has only helped further expand the Punks ecosystem and lore.<\/p>\n And while Punks technically isn\u2019t the first NFT project<\/a> on Ethereum, it is one of the earliest and undoubtedly the most influential. Many of those patient enough to hold have become multi-millionaires, and those lucky enough to get in before the 2021 craze and subsequently be awarded Meebits for free are regarded as some of the most fortunate people in the NFT space.<\/p>\n Those new to the NFT space will inevitably come across CryptoPunks sooner than later. And when they do, they\u2019ll immediately understand one thing: Punks are a remarkably valuable asset.<\/p>\n Let\u2019s put the pricing in perspective. On July 6th, 2017, Alien CryptoPunk #3100<\/a> sold for 8 ETH. That was roughly about $2,000 at the time. Back then, this would\u2019ve seemed like a ludicrous price for a JPEG. Yet, almost four years later, in March of 2021, that same Punk sold for a staggering 4,200 ETH ($7.58 million).<\/p>\n Although we\u2019re talking about one of the highest Punk sales to date, such sales were far from uncommon during the duration of the 2021 CryptoPunks bull run. Over the course of the year, Punks went from selling for as low as 7 ETH to absolutely exploding towards the fall. During this time, the price of even the cheapest available Punks was around 100 ETH. Today, the most recent Punks sales<\/a> are priced similarly, at around 50-70 ETH each, with the rarest CryptoPunks selling for as much as 200 ETH. But the prices have more or less stabilized.<\/p>\n If you have enough crypto in your wallet (props to you if so), you can buy one on the CryptoPunks website<\/a>.<\/p>\n Auction houses have also taken to selling Punks. So if you keep your eye out, you might be able to buy one in a special sale. In fact, Christie\u2019s has to be given a great deal of credit for the development of the Punk marketplace by exposing those in more traditional art spaces to Punks. As a follow-up to the major auction house\u2019s $69 million Beeple sale in March 2021, Christie\u2019s presented a collection of nine CryptoPunks<\/a> in May that sold for a whopping $16.9 million.<\/p>\n Over time CryptoPunks have come to be seen as not only a potentially lucrative investment but as a status symbol. Gmoney says that he purchased his CryptoPunk because he wanted the status that came with it. \u201cWith an NFT, by posting it as my avatar on Twitter and Discord, I can quickly \u2018flex\u2019 with a picture[\u2026] It has the same effect as wearing that Rolex in real life, but digitally,\u201d he said.<\/p>\n \nWhat are CryptoPunks?<\/strong><\/h2>\n
![\"Cryptopunk](\"https:\/\/nftnow.com\/wp-content\/uploads\/2023\/04\/CryptoPunk-Attribute-Counts-1200x675.png\")
Who created CryptoPunks? <\/h2>\n
H<\/strong>ow to buy a CryptoPunk<\/strong> NFT<\/h2>\n
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Why are CryptoPunks so expensive?<\/strong><\/h2>\n