CryptoPunk 101- Everything You Need To Know About CryptoPunks Like NFT

Every successful digital platform has a point of inception. CryptoPunks were the dominant force at that point and we could say, they were the ones who opened the doors for digital collectibles to enter the platform of business as a mainstream idea.  At the beginning of the time, CryptoPunks were available as a free art; the buyer only had to pay for the gas fee that is involved with the trading. Then the decentralized finance and NFT sector was introduced and everything changed. These impressive digital arts collaborated with NFTs and these CryptoPunks like NFT began to charge their buyers and they were sold on various secondary marketplaces. 

What Are CryptoPunks?

Digital collectibles are often regarded as the ancestors of NFT trading. They elevated this platform to enormous heights at the initial stage.  CryptoPunks are smart contract-generated pixelated art that satisfies every aspect of non-fungible tokens. From uniqueness to rarity, everything is covered by CryptoPunks like NFT. The virtues of CryptoPunks are generated and applied with the help of their smart contracts; every virtue is dependent on the smart contract of the digital collectible.

CryptoPunks are developed by Larva labs and 10,000 punks are in availability. Out of these 10,000 punks, the first 1000 punks are secured by the founders and they are known as dev punks. These dev punks are highly exclusive and they cannot be traded on secondary marketplaces or any other marketplaces.

Even now, CryptoPunks are dominating the present market. This dominance is a result of their versatility; they are available in many forms, such as men, women, aliens, zombies, and apes. Among these unique varieties, zombies and aliens are the most sold punks and have taken this digital collectible domain to astonishing heights.

Why CryptoPunks Are Popular Among Netizens?

The profound answer to this question would be Non-fungible tokens. NFTs are the stepping stone for every digital asset that wants to make it big in the digital world. Non-fungible tokens are digital assets that are created on the blockchain network and they are influenced by the virtue of uniqueness and rarity. Thus, it is the perfect platform for any digital collectible owner to create their asset and expect enormous rewards.

Digital collectibles and digital arts are the starting point for the ingress of NFTs into the digital market. They have allowed the digital audience to gain a sufficient amount of knowledge about the NFT domain. In addition to this, CryptoPunks were created and it was very unique which caught the attention of many digital audiences and has grossed more than 11 million dollars. 

This exponential growth and revenue generated by trading these assets have elevated their popularity and it has become a well-known commodity among the netizens at present.

Trademark CryptoPunks

• CryptoPunk #7523 is the highest-grossed punk of all time. It has grossed up to a huge sum of 11 million dollars.

• CryptoPunk #7804 is the second highest-grossed punk which was sold for over 7.51 million dollars.

• CryptoPunk #5217 is a unique punk that is characterized by red-colored headgear and a gold chain. This unique punk was sold for over 5.44 million dollars.

Characteristics Of CryptoPunk

• Unique sorting of numerous attributes precisely.

• Highly secure and reliable programming base.

• Complete decentralization and secured by blockchain technology. 

• Powerful smart contract coding and execution.

CryptoPunks As A Business Endeavor

Pixelated digital assets are being the buzz right from their inception. These CryptoPunks can be conducted as a business platform in various methods. The first would be buying a CryptoPunk like NFT and trading them on the secondary market once its market value rises to the desired point. The rise of the market value is achieved by holding the CryptoPunk and waiting for the right moment. The second method would be creating a CryptoPunk like NFT by hiring a development company. This type of digital collectible can be created by developing a smart contract that contains the foundational concept of CryptoPunk. 

Wrapping Up,

CryptoPunks are proof that NFTs can go mainstream and influence a wide array of business platforms. This concept is not done yet. It is still evolving and is expected to make immense changes in the future. These changes result in only one thing; the success of the domain and providing a safe and secure trading experience to the buyers and sellers.