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CryptoPunks are certainly one of the primary Ethereum-based non-fungible tokens. These are algorithmically generated unique digital artworks of 24×24 pixel size. There are only 10,000 unique CryptoPunks. Most of the punks are human characters, i.e., 6039 are males and 3840 are females NFTs. Some special categories like Zombie (88), Ape (24), and Alien (9) are also present. Each of those punks has its page that incorporates the main points about its features, owner, availability status, and transaction history.
Launched in June 2017, CryptoPunks was developed by American studio Larva Labs. The project was led by two Canadian software developers, Matt Hall and John Watkinson.
The supply of CryptoPunks is fixed. The variety of CryptoPunks can never be greater than 10,000. These punks were originally distributed at no cost and quickly claimed by Ethereum wallet users.
Each punk is non-identical. They all have different traits like skin color, hairstyle, accessories, etc. that make each of them completely distinguishable from each other. Some of them have extremely rare attributes. A pair of aliens with numbers 7804 and 3100 are the most costly punks so far. Users should buy these punks via the marketplace. You can check and place a bid on punks which might be available on the market. One can copy the image file of their local system, but it might be officially owned by a single person on the Ethereum blockchain.
Characteristics
Punks are categorized based on various characteristics. Within each categorization, you may also find the next details about punks in that section:
- Total variety of punks
- Number of accessible punks
- Average sale price
- Lowest Price
- Example for reference
Punk Type
All 10,000 punks are divided into these 5 categories:
Attributes
Punks were also categorized based on attributes. Attributes play a significant role in making these punks unique. An enormous variety of permutations and combos of those different attribute types helps in creating the unique digital item.
Some of the examples of the attributes are listed within the below screenshot.
Attribute Count
Punks may possess 0 or multiple attributes. Below is the list of punks that contain 0 or more (max 7) attributes.
Usage Guide
To explore and to purchase these punks, visit their website.
As we have now mentioned that CryptoPunks are Ethereum-based NFTs, so to access these NFTs and platforms, users are required to attach their Ethereum (MetaMask) wallet.
Connect your MetaMask wallet.
From the homepage, you may get complete details in regards to the recent transactions, punks available on the market, wrapped punks (convert CryptoPunks into ERC721), overall stats, etc.
If you’re planning to purchase some punks, then scroll the CryptoPunks homepage and seek for the choice For Sale.
As you may see from the above screenshot, currently the platform has 1,413 items on the market. Click on the hyperlink to see the main points of all available items on sale.
Once you click on it, it would redirect you to a page where you may select your required item and place an order.
Select your required punk. We have randomly chosen CryptoPunk #4951.
The page lists the characteristics of that exact NFT, its current owner, and its entire transaction history.
Interested users can perform two activities here. They can either buy the NFT in the event that they are willing to pay the quote set by the owner or they’ll bid on it.
If you wish to place a bid, you may click on the Bid button and enter your amount.
To buy the punk, you may directly click on the Buy button after which confirm the MetaMask transaction.
The price of the punks is high. You must have enough ETH in your account to pay for the gas charges and asset cost, otherwise the wallet will throw an insufficient fund error message.
Recent Top Sale
You can check the highest sales of those NFTs. It lists the punks so as of their USD value.
At the time of writing this text, one CryptoPunk with item number #3100 was sold for 4.2K ETH (then price $7.58M) on Mar 11, 2021.
Item number #7804 is holding the second position with a selling price of 4.2K ETH (then price $7.57M) on Mar 11, 2021. Both of those punks belong to the Alien category.
Platform Statistics
Now allow us to see the general statistics of the platform and learn the way it’s dominating the present NFT market.
You can check the Dapp website that lists the users and trading volume of the NFT marketplace.
The report shows that CryptoPunks are currently ranked on the #2 position with a monthly trading volume of $194.45 million. Though it has seen a drop of 26.37% in comparison with last month’s trading period.
If we take a look at the Ethereum NFT market size, CryptoPunks hold a major position by occupying 69.4% of the market, together with a valuation of $54.17 million currently out of the overall NFT volume of $78.02 million.
Important: Note that these figures were taken on the time of writing this text. Since the NFT market is sort of volatile and constantly changing, the figures may not remain the identical at a later date.
Social Presence
Conclusion
The NFT market is growing very fast. We have seen a steep user inclination towards NFTs, and the rationale being that it provides ownership rights to the creator. Recently, an NFT item titled Everydays: the First 5000 Days by a digital artist named Mike Winkelmann (professionally often called Beeple) was sold for a whopping $69.3 million at Christie’s in 2021, which gained the eye of your entire world. This is the very best price ever paid for an NFT art piece. However, there is no such thing as a such valuation system that may calculate the value of any NFT, and hence, the precise monetary value of an NFT can’t be accurately predicted. It completely depends upon the client’s wish how much he’s willing to pay for an item. CryptoPunks, being the primary of their kind with a set supply and uniqueness, hold a major place within the history of Ethereum-based NFTs.
Resources: Dapp Medium Blog
Read More: Blank: A Privacy-Focused Browser Extension Wallet
Featured image courtesy of Larva Labs.
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