CryptoPunks, considered one of the first non-fungible token (NFT) collections on the Ethereum blockchain, has reached a major milestone because it celebrates its sixth anniversary.
Since its launch in June 2017, CryptoPunks has captivated the world with its 10,000 digital collectibles, leaving an indelible mark on the NFT realm as the largest NFT assortment by market cap.
According to knowledge compiled by blockchain analytics agency Nansen, CryptoPunks at present has an estimated market cap of over 806,801 ETH, price greater than $1.53 billion.
The Journey So Far
In a tweet thread, Nansen defined that CryptoPunks had a âhumble beginningâ on June 23, 2017, when solely 287 wallets claimed the digital collectibles without cost as quickly as they had been launched. Canadian software program builders Matt Hall and John Watkinson comprised the two-person workforce from Larva Labs studio, which launched the assortment.
By the finish of the launch date, 291 distinctive wallets had CryptoPunks after the first claimers had bought a few of the property. Per week later, the NFTs reached a mean worth of 0.5 ETH with a quantity of 124 ETH. Ether was price $300 at the time.
Nearly a 12 months later, in April 2018, fewer than 500 distinctive wallets held CryptoPunks, and by November 2020, the quantity had grown to 1,000. The progress may very well be linked to the emergence of wrapped punks in September 2020.
Wrapped punks are ERC-721 NFTs, backed by unique ERC-20 punks, and tradeable on marketplaces like OpenSea and Rarible. To date, 770 punks are nonetheless wrapped, and the contract is the largest punk holder, adopted by NFT firm Yuga Labs with 422 punks.
The Most Expensive CryptoPunk Transaction
In 2021, the worth of CryptoPunks quickly surged alongside the variety of new collectors. While wallets holding a minimum of one punk reached 3693, the costs of the collectibles, notably these with uncommon attributes like alien and ape, soared.
By February 18, 2021, CryptoPunks reached a weekly quantity of 24,969 ETH ($48 million). On the identical date, punk #4156 was bought for 650 ETH ($1.25 million), marking the first time a collectible was bought for greater than one million {dollars}.
The most extraordinary CryptoPunk transaction occurred a 12 months later when punk #5822 was bought for 8,000 ETH ($23.7 million), making it the most costly punk so far.
Yuga Labs to Publish CryptoPunks Book
In commemoration of the sixth anniversary, Yuga Labs, the proprietor of CryptoPunks, has partnered with Zak Group to publish official documentation of the NFT assortment in a first-of-its-kind guide.
The catalog will carry to life the untold tales of the assortment, detailing each punk, pixel by pixel.
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