What are CryptoPunks?
The CryptoPunks are 10,000 entirely unique Non-Fungible Tokens (NFTs) that were launched in 2017 by Canadian tech enthusiasts John Watkinson and Matt Hall, the team behind Larva Labs. Each CryptoPunk was minted on the Ethereum blockchain, and surprisingly, they came before the infamous ERC-721 standard, which is essentially what most NFTs today comply with. In fact, many argue that it was the CryptoPunks collection that actually inspired the creation, proposal, and the acceptance of the ERC-721 standard in the first place. According to an official statement by Larva Labs, CryptoPunks are “almost ERC20” tokens.
How did CryptoPunks begin?
While the exact initial price (mint price) of the CryptoPunks collection is debatable, some sources say that minting a CryptoPunk was for free. Only the gas fee needed to be covered while minting it. Interestingly, they did not actually have much traction when it rolled out for the first time. A couple of addresses bought hundreds of pieces, and so the launch seemed to have failed to live up to the creators’ expectations. This is until there were a few articles that picked up the project, and within a day after their publications, all the punks were sold, despite a really early stage, barely functioning marketplace built for transacting them that was full of defects.
Where are the CryptoPunks headed?
Being one of, if not the earliest forms of NFTs, the CryptoPunks have slowly become status symbols within the sphere over the years. Owning one usually conveys opulence, while unlocking the feeling of being part of the exclusive group of 10,000 holders. Naturally, there are many celebrities who secured their very own CryptoPunk, such as Jay-Z with his Punk #6095, Snoop Dogg with nine pieces, Gary Vee with an estimated $15M overall punk holding, and the list goes on. You can even see all of the top holder addresses, along with their associated ENS names here.
It’s hard to tell what the future holds for these historic crypto tokens, however, one thing is almost certain: without CryptoPunks, we probably wouldn’t have seen the NFT revolution, one of the greatest movements in the crypto world to date.
How can I show off my Cryptopunks?
If you are thinking about getting a Cryptopunks then Numio is a great choice for viewing and showing off your prized NFT collection, right there on your phone screen, whenever you want and wherever you are.
And while you can’t yet trade NFTs on Numio all the background and proof of ownership is there for you to say ‘look, this Cryptopunks is mine, I own it’.