A collection of 10,000 uniquely generated, pixelated images, CryptoPunks is widely recognized as one of the first and most notable NFT projects created to date.
Free to claim on release in 2017, the CryptoPunks collection now maintains a floor price above $100,000 with sales of the most rare “Punks” comfortably breaching $1,000,000.
The collection is largely made up of profile images of human males and females, however the most rare CryptoPunks aren’t human - but instead, Apes, Aliens, and Zombies.
The collection breakdown by “type” is as follows:
- Male (6039)
- Female (3840)
- Zombie (88)
- Ape (24)
- Alien (9)
Beyond “type,” the CryptoPunks collection also introduced a variety of “attributes.”
The list in detail can be found here, and ranges from virtual reality headsets to crazy hair and eye patches. The rarest of the group “Beanie” can only found on six of the 10,000 Punks, while other attributes like “earring” (2459) and “nerd glasses” (572) can be found on a much larger group of Punks.
CryptoPunks were the inspiration for the now ubiquitous ERC-721 standard.
In mid-August 2021, Visa announced the purchasing of a CryptoPunk as a part of their investment in the unfolding of Web 3.0 and NFTs integral role in building it. CryptoPunks also bridged the gap into the physical world when the United Talent Agency (UTA) signed a representation agreement with LarvaLabs and all of their IP (including Autoglyphs and Meebits) to be potentially featured in shows, movies, and more.
In January 2022, CryptoPunks started working on an open-source marketplace to address issues with the current marketplace's UI. The new website is still in progress.
On Feb. 12, 2022, CryptoPunks broke its highest sale record when CryptoPunk #5822 sold for 8,000 ETH, or $23.7 million.
On Mar. 11, 2022, Yuga Labs (creators of Bored Ape Yacht Club) acquired CryptoPunks and Meebits, granting full commercial rights to holders of both projects.
The Punk was purchased by Deepak, the CEO of Chain, for 8,000 ETH (more than $23 million dollars at the time) on February 12, 2022.
They also listed the Punk back in March for 10,000 ETH before canceling the listing but today the Punk got listed for 9,000 ETH and has now been on the market for more than ten hours.
While that price is 1,000 ETH over what Deepak paid back in February, the current USD cost of that listing is just shy of $10 million dollars, which would be a loss of 58 percent if sold.
CryptoPunks have been by far the biggest leader in sales volume leading up to the recent Yuga Labs announcement.
Since the announcement, the project has had no signs of slowing either and just recently had a sale of 825 ETH ($875 thousand dollars) on a Punk with the "Zombie" trait.
There are currently only four Zombie Punks for sale with the cheapest now being 1150 ETH.
Crypto price action has been all over the place the last month and NFTs have been arguably just as volatile of an asset in that time frame.
When owning high-risk assets, it is always a good idea to stay on top of your portfolio and check the price movement.
Let's take a look at how "blue-chip" NFTs have performed over the last 24 hours.
Below is the price action of multiple NFT collections with a floor price of above 8.0 ETH in the last 24 hours according to the Lucky Trader Project Rankings.
|Project||Volume Movement||Floor Price Movement|
|Bored Ape Yacht Club||+31.14%||+5.95%|
|Mutant Ape Yacht Club||-40.31%||+26.29%|
CryptoPunks stats were taken from the official Larva Labs website.
Following Yuga Labs announcing CryptoPunks holders should be receiving the commercial rights to their NFT within the coming weeks, Meebits, the expansion collection to CryptoPunks, has seen a run-up in floor price and in volume.
A breakdown of the recent news can be found on Lucky Trader.
In the last 24 hours, Meebits have seen its floor price increase by almost 30 percent to 4.44 ETH as well as its volume increase by 344 percent and unique sales increase by 288 percent.
Yesterday, the market saw CryptoPunks reassert dominance as the project had by far the most volume of any NFT collection and saw its floor price go from under 50.0 ETH to sitting at its current price of 66.65 ETH according to the Larva Labs website.
Following today's announcement from Bored Ape Yacht Club Co-Founder @CryptoGarga where he said Yuga Labs will begin transferring commercial rights to CryptoPunks holders, speculation has begun that the market's recent positive reaction to CryptoPunks was based on the news of this announcement.
Regardless of the reasoning, CryptoPunks has done over 8,000 ETH in trading volume in the last 24 hours, which is over $8 million dollars.
For reference, this is more volume than Bored Ape Yacht Club, Moonbirds, Mutant Ape Yacht Club, Otherside, Clone X, Azuki, Doodles, and World of Women have done combined in the same time span according to the Lucky Trader Project Rankings.