Tracing the Beginnings
CryptoPunks, one of the premier non-fungible token (NFT) collections on the Ethereum blockchain, has marked its sixth year. Since its inception in June 2017, CryptoPunks has taken the world by storm with its collection of 10,000 digital collectibles, establishing itself as the largest NFT collection by market cap.
Ascending to Popularity
CryptoPunks had a “humble beginning” on June 23, 2017, when just 287 wallets claimed the digital collectibles for free as soon as they were released. But by the end of the day, 291 unique wallets had CryptoPunks, with the first claimers having sold some of the assets. The popularity of these NFTs only grew from there, capturing the interest of more collectors as time went on.
Innovation in NFTs: Wrapped Punks
The growth of CryptoPunks could also be attributed to the creation of wrapped punks in September 2020. Wrapped punks, a type of ERC-721 NFT, are backed by original ERC-20 punks and are tradable on popular marketplaces like OpenSea and Rarible. Today, 770 punks remain wrapped, making the contract the largest punk holder.
As more collectors joined the fray, the value of CryptoPunks began to skyrocket. Some of the collectibles with rare attributes like alien and ape soared in price, resulting in record-breaking transactions. The most remarkable CryptoPunk transaction was when punk #5822 was sold for an astounding 8,000 ETH ($23.7 million), setting the record for the most expensive punk to date.
Celebrating the Sixth Anniversary with a Book
In honor of the sixth anniversary, Yuga Labs, the owner of CryptoPunks, is set to publish an official book documenting the NFT collection’s journey. The book, a first of its kind, will chronicle the untold stories of the collection and provide a detailed look at every punk, pixel by pixel.
Looking to the Future
As CryptoPunks marks its sixth anniversary, the NFT market continues to evolve at a rapid pace. The collection has played a pivotal role in shaping the landscape of digital art and collectibles, setting a precedent for future NFT projects. Its exponential growth and the forthcoming publication of the official book highlight the continued fascination and investment in these unique digital assets.
The future is promising for CryptoPunks and the wider NFT market. As the digital art space continues to evolve, there’s little doubt that CryptoPunks will remain an iconic part of this innovative realm, standing as a testament to the transformative power of blockchain technology and the untapped potential of digital collectibles. This six-year journey is merely the start, and the world eagerly awaits the unfolding chapters of the CryptoPunks saga.