In this article, we will be talking about the uniqueness of a token called the CryptoPunk nft and also the Cryptopunk Nft price.
CryptoPunks NFT is collectible pieces of crypto art launched by NFTs on the Ethereum blockchain. There are 8-bit-style punks, 10,000 small, all with unique features.
One of the first popular NFT projects inspired many crypto artists and even enlarged the ERC-721 token standard for digital collectibles.
The project became very popular in 2021 when some CryptoPunks were sold for millions of dollars, making them one of the most expensive NFTs.
Just having one of these funny-looking punks could buy you anything from a small apartment to a large mansion. Particular to 10,000, these 8-bit-style CryptoPunks are a gathering of NFTs that are already in huge demand.
They don’t stake, fight or do anything other than be the little punks they are. CryptoPunks also appears to be one of the first NFT projects to have existed.
What is Cryptopunk NFT?
CryptoPunks NFT was launched in June 2017 as one of the first non-fungible tokens (NFT) on the Ethereum blockchain. American studio Larva Labs developed the project, a two-person team consisting of Canadian software developers Matt Hall and John Watkinson.
The London punk scenes inspired the experimental task, the cyberpunk movement, William Gibson’s novel Neuromancer, Johnny Mnemonic, Blade Runner, and electronic music artists Daft Punk.
The crypto art blockchain project inspired the ERC-721 standard for NFTs and the modern crypto art movement, which has become an ever-expanding part of the cryptocurrency and decentralized finance ecosystems on multiple blockchains.
Who Created Cryptopunk?
Cryptopunk NFT was created by John Watkinson & Matt Hall.
Cryptopunk NFT Price
The CryptoPunk Nft price is #7252 sold for a whopping $5.3 million
Cryptopunk NFT 1422 was bought four years ago for just $74. On October 27, the holder sold it for a massive $2million, increasing over 27,000 times in value. And there are not the only ones cashing the eye of investors this year.
Earlier during the day, CryptoPunk nft 8770 was sold for$1.4 million—the seller had a bunch of Deadfellas NFTs seven months ago for a little over $100000. With the cryptopunk sale, he has booked a 15 times return on his investment.
It is not just that the NFT market is extraordinary but that the CryptoPunk NFT project is the second biggest player in the trading. With all-time CryptoPunk NFT sales worth $1.5 billion, the phenomenon is the second only to Axie Infinity.
This play-to-earn blockchain-based game involves collecting pokemon type pets and getting them to battle against each other in the NFT world.
The most valuable CryptoPunk NFT price is 7523.it was sold for over $11.7 million when billionaire shalom mecknizer, the largest shareholder of Draftkings, purchased the work at the Sotheby auction in June.
Where to Buy Cryptopunk NFT
Along with designing the CryptoPunks NFT themselves, Larva Labs also created their marketplace on the CryptoPunks website.
That is where users make bids, buy, and sell CryptoPunks. You can interact with the market by installing and connecting your MetaMask.
CryptoPunks have also made their way to the OpenSea, a central NFT marketplace on Ethereum. These pixel punks are a bit different.
They have been wrapped into ERC-721 tokens so that they are exchangeable on NFT marketplaces.
An ERC-721 CryptoPunk NFT can be easily converted back into its original ERC-20 form. Wrapped PUNKS’ wrapping and unwrapping processes can be done with a MetaMask wallet containing a CryptoPunk NFT.
Why Cryptopunk NFT is Expensive
The scarce an item, the higher its value. As previously mentioned, no two CryptoPunks are alike; thus, this scarcity leads to people paying high prices if they wish to own one.
The hedonic value comes into play, too, when valuing an NFT. It refers to how much enjoyment the consumer gets out of the product.
Watch the video below to know more about the Cryptopunk NFT Price:
Each CryptoPunk NFT is randomly generated from a list of dozens of attributes, meaning that there is a formation of designs: people, zombies, apes, and aliens.
The zombies and aliens are some of the most popular avatars that have commanded some of the highest sale prices to date.