CryptoPunks are digital arts in the form of non-fungible tokens. They are one of the first NFTs that run on the Ethereum blockchain. CryptoPunk NFTs consist of about 10,000 algorithmically produced 24×24 pixel portraits. These portraits have different features, like an image of someone smoking a pipe or wearing a hat. Cryptopunks are one of the best NFT projects in the market, with some NFT punks selling for millions of dollars. However, people can also get free Cryptopunks, but they will have to pay the transfer fee.
Where Did CryptoPunks Come From?
CryptoPunk is the artwork of a two-person development team, Larva Labs. The team works on several projects, including utilities to web infrastructure, mobile games, and digital design and art. Larva Labs created a pixelated character generator, drawing inspiration from cyberpunk films and novels and the London punk scene.
With this CryptoPunk generator, about 10,000 unique NFT characters were created. The Dev team hosts the NFTs on the Ethereum blockchain. Larva Labs gave out 9,000 portraits to their followers and left 1,000 of them for themselves.
Why Are these NFTs So Desirable?
CruptoPunks are unique because they are among the earliest NFT projects running on the Ethereum blockchain. People who have CryptoPunk NFTs have bragging rights. Also, they have a strong reputation in the NFT space. This makes NFT investors trust them and prefer having their artwork. The launch of CryptoKitties put them in the news. This blockchain game and NFT project gave the CryptoPunk project a big boost as the first of its kind.
Another reason why the CryptoPunk project is desired by many is scarcity. There are only 10,000, meaning not everyone can own a CryptoPunk. This is why people can buy Crypto Pinks for millions of dollars. Interestingly, CryptoPunk price varies according to their attributes. Some portraits have rare qualities. This attracts investors to buy them.
How To Buy CryptoPunks
Setting up a crypto wallet like Metamask is the first step to buying a CryptoPonk NFT. The wallet must be set up in a that it works Chrome extension. Buyers will have to connect their wallets to an NFT marketplace. Next, buyers will have to fund the wallet with some Eth. Users can get Eth on various crypto exchanges.
Once you have your Metamask wallet running, you can then buy CryptoPunks. You can select and view the NFT collection you want. Once you choose the CryptoPunk, you wish to purchase, click in the NFT, then click the buy option.
CryptoPunks are NFT projects with high resale value. They can give a high return on investment if you buy the right CryptoPunk. So if you want to invest in CryptoPunks, ensure you do proper research. This will help you select the right project at all times. Click here to know more about NFTs.