CryptoPunks
The Original NFT Collection - Released in 2017.
Introduced the world to Non-Fungible-Tokens.
Some Punks sold for over $1,000,000.
Background on CryptoPunks
CryptoPunks is a collection of 10,000 unique, algorithmically generated 8-bit characters on the Ethereum blockchain. Each character, or "punk," has its own unique set of attributes, such as hairstyle, accessories, and facial features, and some punks are rarer than others. The project was created by software developers Matt Hall and John Watkinson in 2017.
CryptoPunks are considered to be one of the first examples of a non-fungible token (NFT), which is a type of digital asset that is verified on a blockchain and is unique, meaning it cannot be replicated or replaced. Each CryptoPunk is one-of-a-kind and is stored as a smart contract on the Ethereum blockchain, making it a digital collectible that can be bought, sold, and traded.
CryptoPunks gained significant attention and popularity in 2021, as the market for NFTs exploded and more collectors and investors sought to purchase unique and rare digital assets. Some CryptoPunks have sold for millions of dollars, with the rarest and most sought-after punks commanding the highest prices.
The success of CryptoPunks has inspired the creation of many other NFT projects, and the concept of digital collectibles has become increasingly popular in the art and entertainment industries. CryptoPunks and other NFT projects have already made a significant impact on the world of digital art and collectibles.
2023 Q1 Outlook
Based on the current trends and interest in the NFT market, it's possible that CryptoPunks will continue to hold their value and potentially even increase in value in the coming years.
CryptoPunks have already established themselves as a highly sought-after and valuable digital collectible, with some punks selling for millions of dollars in 2021. The project's popularity and success have inspired the creation of many other NFT projects, and interest in the market is likely to continue to grow in the coming years.
FinThink forecasts that the value of CryptoPunks will continue to grow arbitrarily with time as it was the original NFT project and its brand is now too big among socialites for it to fade.