Learn more about CryptoPunks on Lucky Trader: CryptoPunks
CryptoPunks is a collection of 10,000 pixelated NFTs that was launched in June 2017.
The collection was initially free to claim for any user with an Ethereum wallet. As one of the first NFTs on the Ethereum blockchain, many NFT collectors attribute notable historical significance to the collection.
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Learn more about the project and its rise to success below.
Now one of the most sought after NFTs, CryptoPunks was not an instant hit when it was released in 2017.
“When we started this, we didn’t even know if anyone would care,” said Matt Hall, co-founder of Larva Labs and CryptoPunks. “At first it was like, ‘Oh my god, we have 10,000 of these things and people took 30? That’s going to be stupid, right?’ But then they’re all gone.
While creating CryptoPunks, Hall and co-founder John Watkinson also inspired the ERC-721 standard. Although an afterthought for most non-technical NFT collectors, the ERC-721 standard is a fundamental part of nearly every notable NFT collection created today.
While CryptoPunks received some fanfare in 2017, it will still be a few years before a wider population discovers CryptoPunks. Meanwhile, CryptoPunk’s notable sales have grown from thousands of dollars to millions, and the collector base has expanded beyond tech and cryptocurrency enthusiasts to celebrities and collectors, like Jay-Z and Odell Beckham Jr.
As CryptoPunks gained mainstream attention in early 2021, Larva Labs also dropped a companion collection, Meebits. All CryptoPunk owners were eligible to claim one NFT for free, and another 10,000 NFT Meebits were auctioned off to the public.
Punks and Meebits were both maintained by Larva Labs until March 2022, when Yuga Labs, the team behind Bored Ape Yacht Club, shockingly purchased the intellectual property rights to the collections.
Under the leadership of Yuga Labs, CryptoPunks remains one of the most sought after NFT collections for collectors.
At the time of writing, the floor of CryptoPunks is 63.95 ETH.
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Disclaimer: The author or Lucky Trader team members may own the NFTs discussed in this article. Further, the information contained on this website or the Lucky Trader mobile application is not intended to be and should not be understood or construed as financial advice.
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