Cryptopunks NFT project has a great historical value. The first attempt to create a digital art algorithmically that, when minted, generates a private key attached to it, was made by the owners of larva labs, Matt Hall and John Watkinson, in 2017. This private key proves the ownership of the original art and is stored on a blockchain. Cryptopunks NFT was the successful attempt that led to the creation of the oldest and most revolutionary projects in the history of the crypto art domain.
Cryptopunks NFT went live on 23rd June 2017 with a collection of 10k digital characters representing eccentrics and misfits from the London punk era in the 1970s. The algorithm was coded in such a way that each Cryptopunk NFT generated must be of an unrepeatable combination of distinctive traits and features.
Cryptopunks NFT Mint Price, Items, And Volume Traded.
Initially, at the time of launch, Cryptopunks’ NFT mint price was free. The buyers bought it for absolutely no money except for paying the gas fee charged for energy consumption during the storage of the ownership data to the Ethereum-721 blockchain. 9k CryptoPunks NFTs were listed for sale during the minting phase and were sold out very quickly in just a few minutes after the launch on the minting day. The remaining 1K Cryptopunks were reserved for owners.
The word across the globe about Cryptopunks NFT was spread quickly. The technology behind NFTs attracted the masses and suddenly the demand started growing. Due to the limited supply of just 10k items, the Cryptopunks NFT project is looked out as one of the rarest collections in the NFT space.
|Cryptopunks NFT Mint price||0 Eth + Gas Fee|
|Cryptopunks NFT Floor Price||63.5 Eth|
|Volume Traded||866.2k Eth|
(as of 22/03/ 2022)
Does the factor of limited supply alone has driven the floor price so high?
NO! There are some more important reasons. Keep reading the article to know why?
CRYPTOPUNKS NFT ROADMAP
Cryptopunks’ NFT collection is created by a software development company, Larva Labs. Lavra Labs has proven to be one of the biggest names in the NFT space as a creator of several famous NFT Projects like Meebits, Autoglyphs, GitHub Data Visualizer, RoadTrip, etc.
Image credits: larvalabs.com/cryptopunks
The larva labs have always focused on creating various NFT projects and have considered themselves a software development company. This eventually led to the fact that Larva Labs never really focused on brand building and taking the project further to expand its utility.
Recently, One of the biggest and historical collaborations in NFT took place where larva labs made an official announcement to further entrust Cryptopunks and Meebits to YugaLabs as an aim to build the projects further ( 1 ). YugaLabs is the creator and builder of the Bored Ape Yacht Club. YugaLabs is one of the finest brand builder companies in the NFT space. They are experts in creating value for the project by further expanding the roadmap, setting up events, launching NFT games, etc.
As of now, Cryptopunks and BAYC, the two biggest projects in NFT space have been acquired by YungLabs. YugaLabs welcomed Cryptopunks to its family by officially announcing the usage of Cryptopunks NFTs for commercial purposes by giving the owners intellectual property rights fully. This announcement was another important reason for the huge pump of Cryptopunks’ NFT Floor Price.
Furthermore, YugaLabs have been filing for some trademark applications like Jewelry, trading cards, hats, shoes, sneakers, skateboards, toys, beer, wine, etc. This could expand the utility of Cryptopunks to a huge potential.
Cryptopunks NFT Rarity & Top Sale Prices
In this collection of 10k Cryptopunks, very few characters are algorithmically created with the combination of super rate traits and attributes. Here is a list of the Top 3 super rare punks and their Cryptopunks NFT price history.
#3100 Tops the list in of rarest punks.
Type- Alien Punk( total-9)
Sold – $7.58M
#7804 places on rank 2 in terms for rarity.
Sold for $7.5M
#6965 Rank 3 In Rarity
Type – Ape Punk
Sold for $1.5M
Cryptopunks NFT Price History Of Top Sales.
Image credits: larvalabs.com/cryptopunks
#5882 – $23.7M #3100- $7.58M #7804- $7.57M #5577- $7.7M #4156- $10.2M
#4156 for $10.2M Is Cryptopunk NFT Highest Price Sale Till Date 17/03/2022.
Cryptopunks NFT Price Prediction
Due to Cryptopunk’s historical value as the oldest NFT project and its limited supply, there will always be a huge demand. Analyzing the roadmap and its recent collaboration with YugaLabs, there are numerous opportunities for YugaLabs to add more value to Cryptopunk’s NFT project and therefore the price predictions are to the higher end for Cryptopunks.
How To Buy Cryptopunks NFT
Follow the below-mentioned steps to buy Cryptopunks NFT.
Step 1: Sign up for the Gemini exchange or Coinsmart exchange and set up your account. Fill in all the KYC details. After the approval, your wallet will be activated and you will be eligible to trade cryptocurrencies. Your spot account will be credited with $30 on signing up to coin smart exchange.
Step 2: Add funds to your Gemini wallet with fiat currency and then buy Ethereum.
Step 3: Add Metamask extension to your google chrome browser and set up your Metamask account. Make sure you note down your secret phrase on the safest source possible. Don’t share this phrase with anyone.
Step 4: Transfer your Ethereum from your Gemini wallet to your Metamask wallet.
Step 5: Connect Metamask wallet to Opensea marketplace after setting up your OpenSea account.
Step 6:The Cryptopunks NFT is listed on Cryptocurrency NFT OpenSea. Connect your choose your favorite Cryptopunks NFT, and import them to your wallet after successful bidding or buying. (3)
The Cryptopunks NFT Floor price has been on a continuous uptrend since the day it was acquired by YugaLabs. This collaboration has opened the door of possibilities of Cryptopunks NFT to a huge extent and has given this project a new dimension. Furthermore, full rights to owners to use Cryptopunks NFTs for commercial use has again given this project a promising future opportunity to add more value to its NFT collection.
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Aditya Sharma is currently pursuing Masters in Computational Mechanics and in the midst of his master's voyage, he connected with coding instantly. Smart Contracts and Blockchain Technology intrigue him to the core. As he dives deep into learning, trading, and researching NFTs and cryptocurrencies, he finds himself falling in love with Web3.0. He aspires to immerse himself into the coding world and become a Blockchain developer