6 Things to Know About CryptoPunks

Syafira Nur Tazkia Abdillah . September 07, 2022

Picture: Ledger Insights

What is CryptoPunk NFT?

Techspace - CryptoPunk NFT is a collection of 10,000-pixel images, each displaying randomly generated personalities, combinations, and traits. As the first NFT project on the Ethereum blockchain, CryptoPunk has been named a popular NFT with fantastic sales.

Who is the Creator of CryptoPunk NFT?

CryptoPunk NFT is one of the first NFT projects on the Ethereum blockchain, launched in 2017. This NFT project was developed by the American studio Larva Labs. Larva Labs is a company founded by Canadian software developers Matt Hall and John Watkinson. Punk London inspired the project, the cyberpunk movement, William Gibson's novel Neuronmancer, films by Blade Runner and musical artist Daft Punk. 

What Are the Types of CryptoPunks?

CryptoPunks consist of various designs, some of which are in the form of humans, apes, zombies, and aliens. The more unique the combination, the rarer the NFT CryptoPunks. The NFT consists of 24 monkeys, nine aliens, 88 zombies, 3,840 female punks, and 6,039 male punks. Each of these characters has characteristics, such as wearing 3D glasses, having red cheeks, wearing lipstick, wearing a hair tie, wearing a beanie, and so on. The first thousand CryptoPunks were made available to the project's developers, known as Dev Punks. In addition, there is a Punk without unique characteristics or attributes called "Genesis Punk."  

How to Buy CryptoPunk NFT?

If you are interested in buying and investing in CryptoPunk NFT, here are the steps to take:

  1. Create an Account at OpenSea. Opensea is the largest market for trading NFT. OpenSea has many CryptoPunks listed for sale, with prices for these collections ranging from around 1 Ethereum to several dozen Ethereum tokens.
  2. After that, you have to connect the crypto wallet to the platform. The most commonly used software wallet on OpenSea is Metamask, as it is Google Chrome extension makes it easy to interact with websites that transact in cryptocurrencies. So, if you want to store NFT safely, you must keep it in your Ethereum wallet (hardware and software wallet).
  3. You can immediately buy the desired CryptoPunk work if all the steps have been done. All 10,000 Cryptopunk works have been minted on the Ethereum blockchain. So, to get one of CryptoPunk's masterpieces, users need to buy it from someone who already owns the collection.

How to Make NFT Art Like CryptoPunk

For those of you who want to make NFT Art like CryptoPunk, the following are the steps you must take:

  1. Select the artwork you want to make NFT. You can create NFTs from digital paintings, text, musical works, videos, or anything else that can be reproduced as a multimedia file. 
  2. Prepare a crypto wallet that you will later connect to the NFT marketplace. Then, make sure to fill the wallet with crypto assets. Generally, some marketplaces will require to use of Ethereum. 
  3. After that, choose a trusted marketplace that can be a place to create and sell NFT art.

How Much Does CryptoPunk NFT Cost?

The price of CryptoPunk NFT traded varies. The lowest price CryptoPunk NFT from the secondary market is under 80 ETH. Lava Labs reports that a CryptoPunk 1417 masterpiece sold for 79.99 ETH or nearly 254,597.75 US Dollars. Even though the owner had sold it for 0.9 ETH in early 2020, this value is one of the lowest prices to buy CryptoPunk. 

One of the reasons that increased the popularity of CryptoPunk is that this crypto asset was the first project on the Ethereum network. This work is called the pioneer NFT and has inspired similar jobs such as Bored Ape Yacht Club, Pudgy Penguins, and many more.

In addition, the cause is the scarcity of these tokens, and CryptoPunk is no exception. This high demand for NFT is driven by celebrities who make CryptoPunk their profile photo on social media. That keeps the need for the token high in the crypto community and makes the price fantastic. Those explanations explain why CryptoPunk is in the top and most popular NFT ranks. 

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