CryptoPunks is one of the first major NFT projects launched in 2017 and gained a lot of popularity among traders within 4 years. This project can be considered the most expensive NFT project launched on Ethereum platform. NFTs became very attractive to users of the world of digital currencies from 2021 onwards, and now millions of transactions are performed on them. CryptoPunks, which is one of the types of NFT projects, includes 10 thousand different tokens, which are made up of images that are 24 x 24 megapixels, and these images are generated in an algorithmic way.
What is CryptoPunks Collection?
The term crypto punk is created from two separate words called Crypto and Punk. The word Crypto Signal means "encrypted" and the word punk comes from British culture and is a unique style of clothing that has its own fans. You can exchange the tokens that are in CryptoPunks with the rest of the digital currencies, and you must use the Ethereum Crypto Signal Leaks to trade them. Cryptopunks collection started working on the Ethereum platform with some specific codes, and now it is a cryptographic collection that is traded only with the Ethereum cryptocurrency.
The images that are available in the collection of cryptopunks have their own appearance characteristics and different designs and shapes are used in them. For example, in this collection you can see different forms of zombies, monkeys, people, etc.
A look at the history of the Cryptopunks collection
Cryptopanx Collection was launched in June 2017. This collection was introduced to the Crypto VIP Signal world by Matt Hall and John Watkinson. The birthplace of this collection is a studio in America called Larva Labs. Since the launch of this collection, many people have been inclined to buy Cryptopunks tokens, and now this collection is considered one of the most popular NFT collections in the field of cryptocurrencies.
The main goal of this collection is to combine NFTs and art, and with the success it has achieved so far, we can say that it has achieved its goal. In fact, the creators of CryptoPunks are considering converting artworks into NFTs so they can sell them.
The studio where Cryptopunks was born started in 2005 in the field of application development by Matt Hall and John Watkinson. Now CryptoPunks tokens exist in the Indicator Crypto market, but they have a high price and have obvious differences with other cryptocurrencies such as Bitcoin.
In 2017, the Crypto Punks collection was distributed for free, but in late 2020 and with the increasing popularity of this collection, many transactions were made on them and we saw multi-million-dollar sales in them.
Features of Cryptopunks collection
CryptoPunks collection has its own unique features and characteristics. Next, we will examine each of these features to get more familiar with this collection:
Limitation and scarcity
The number of tokens in the CryptoPunks collection is limited, which is why it is very popular among traders and lovers of the cryptocurrency world. Only 10,000 NFT tokens from this collection are available in the world of cryptocurrencies. These tokens exist on the Ethereum blockchain platform and have a high price.
A lot of variety
The tokens in the CryptoPunks collection have a lot of variety, and this is one of the attractive features of these tokens for traders. You can find the token you want by searching among the types of tokens in this collection and buy it.
High visual appeal
The appearance of the NFT tokens in the CryptoPunks collection will attract everyone's attention. Each of the tokens in this collection has its own appearance characteristics, and this issue creates many fans for this collection.
All types of crypto punk collection
The punks in this collection include 3840 women and 6039 men. Along with these punks, there are also punks with images of monkeys, zombies and aliens. These punks are known as special punks in CryptoPunks. The most expensive transaction to date in the Cryptopunks collection was for a token from the Spaceman collection numbered 7804, which was sold on March 10, 2021, worth 4200 Ethereum.
Rare and special avatars are more popular in Cryptopunks and therefore have a higher price. For example, avatars related to monkeys or aliens, apart from the high price, have many applicants who are inclined to buy them. The avatars that are similar to humans in this collection have different characteristics; For example, some are smoking or some are wearing hats. The simpler an avatar in the Cryptopunks collection is, the lower its price and the cheaper it is. Do not forget that you are the owner of any of these tokens, you are part of the community of important NFT projects.
\Crypto punxes are also classified into different types based on their background color, which we will introduce below:
Blue background: You can't buy punk with a blue background because the owner doesn't want to sell them. So, if you see a punk with a blue background, and it catches your attention, you can turn to other punks, because that punk can't be bought
Red background color: red background punks are ready for sale and the owner is determined to supply them. You can buy these punks for the price the owner sets
Purple background color: For these punks, purchase orders should be recorded, because they already have another purchase offer, and they are likely to sell
Green background color: green background punks are moved from ERC20 to ERC721 standard to make their deal possible in other NFT trading markets
Reasons behind CryptoPanex's popularity
Reasons for the popularity of the CryptoPanex collection are known; The most basic reason is that the series is ahead; As already mentioned, this NFT collection was one of the first collectives to be created. Also, as the collection contains art images, its appeal increases. The fascination of images in the NFT collection is so great that many Celtics and celebrities, such as Justin Bieber, Jay Z or Perry Winerczak, decided to buy them.
CryptoPanex Collection Price
All the CryptoPanks tokens were now distributed, and it is possible to trade only to different people. Each of these tokens has its own price and are different from the other tokens. We noted that the simpler the appearance of a punk in the series, the lower the price, and the more specific the appearance. Particular punks are always more valuable than regular punks. For example, zombie punks, of which there are only 88, have a much higher price than regular punks. You can click on any of the avatars by entering the Crypto Panks collection and study price and other features.
The good news about the CryptoPanex collection is that the volatility in the digital currency market does not affect its price, and the more demand increases, the higher the price. Some people may create a special collection of CryptoPunks avatars; as more Avatars are asked to be purchased and more punks are added to their collection, the price of the series will also rise.
In general, the price of the CryptoPanex collection can be said to be determined by individuals and collectors, and as such a huge difference can be seen between the price of each punk's deal. This collection is for people interested in works of art and is not very attractive for those seeking to invest.
Most Expensive CryptoPunks
Below is a list of the most expensive crypto-punks and some of their features:
7523: This punk is worth $11.75 million. Punk is a foreign punk with 7523, and there are only nine in the Krypto Collection
PUNK 4156: It is worth US$10.26 million and was rated the second most valuable punk
Punk is 7804: Worth $7.86 million, and is classified as a foreign punk who smokes a pipe
PUNK 3100: The price is US$7.51 million with white blue headband, the most important characteristic of which is foreign punk
PUNK 5217: US$5.44 million is worth PUNK No. 5217, with a red scarf and gold chain
Futures Signal of the CryptoPanex collection
La Rue Lebanes does not report the production or distribution of more punks, and it is therefore out of the question that the success of the punk could be due to the fact that one of the reasons for the popularity of the punks is limited, and if a new punk is added, the popularity may be lost. However, the company reports on a new project called Meebits. The future of the Crypto-Panks is uncertain, as they may lose the popularity they have now and no one will be interested in buying the punks again.
Although the future of the CryptoPanex collection is unknown, it should not be forgotten that it is one of the oldest NFT projects and always remains part of the NFT world.
Investing in the CryptoPanex Collection
The most important thing to know about the entry of capital into the CryptoPanks collection is that there is no possibility of a price increase in the collection. For example, if you bought a punk for $300, the price would not be increased for several months. As we have already noted, the price will be determined entirely by individuals, and the fluctuations in the currency market will not affect the price of these punk items. If you want to invest money in punks and just want to create a collection of different avatars, it's OK, but if you want to sell them for a profit, you need to know that you set your own prices and you can sell them at any cost.
Of course, you may not be able to sell your punk while you are selling it.
A Brief Description
In June this year, CryptoPunk NFT under the pseudonym "COVID Alien", also known as CryptoPunk 7523, sold at a Sotheby's auction for $11.8 million. Just a month ago, no CryptoPunks was sold in general with more than $16.9 million - the second highest record in history, I was only succeeded by Beeple
In 2021, the NFT market was more in demand than ever before, but CryptoPunks was one of the first major NFT to come to the market and has since become a standard in the investment outlook and attracted investment by famous people such as Snoop Dogg and big brands including Visa.
A collection of digital personalities was designed to be made available for free to people with Ethereum wallets and was one of the first pioneers of the NFT, the ambitious investment drive that has hit the world in 2021. Only 10,000،XNUMX CryptoPunks were created, and no two characters are created exactly the same.
A set of 24×24-pixel NFT built on the Ethereum blockchain was launched by Larva Labs, a company founded in 2005 by programmers John Watkinson and Matt Hall. CryptoPunks usually looks like punk rock - with mohawk, cigarette and hole making. Not all CryptoPunks punk, however. Some of the rare characters also depict monkeys, zombies or aliens.
Each CryptoPunk has its own unique profile page and number, as well as its own characteristics and ownership details. Initially, the Larva Labs team released only 9,000 CryptoPunks, which was free for each user with Ethereum wallet. The remaining 1,000, called "Dev Punks", were set aside for the builders. Although Cryptounks was not a success overnight, the enthusiasm continued after drawing media attention, viral and 9,000 free punks were sold in 24 hours.
CryptoPunks paved the way for the flourishing NFT market, and although the project started from the beginning, it is now very popular to invest in individual characters now only through the blockchain or intermediary market like Sotheby's or Christie's and can sell millions of dollars.
Has received many people including celebrities from NFT, including recording artist Jay-Z. The American rapper, songwriter and producer bought their first NFT for $120, 000, 2021 in April XNUMX. CryptoPunk is now his profile photo on Twitter, exposing CryptoPunks to significant media.
Gary Way is a serial entrepreneur who is also a big fan of CryptoPunks. This businessman has not only one, but a collection of 59 different CryptoPunks. Punk #15, valued at $2140 million and punk #3.7 in his arsenal is worth more than $2424 million.
If you had invested $23 in Ethereum in the 1000 June 23, the day CryptoPunks was created, 2017, your investment now is worth $11,000 - a return of 992 over over four years. Part of the increase in ethereum value can be attributed to the increase in NFT or non-replaceable tokens.
It is still unclear how CryptoPunks affects the NFT market, but time only shows the future of the exciting and developing industry.
CryptoPunks is one of the most iconic NFT of our time and like all famous artwork, their legacy should be preserved for future generations. This is what the moment believes, a new platform that honors the best NFT of our time and rewards NFT investment holders.
The project aims to honor the moments of history and ensure that they are far beyond their present glory and can "endure the test of time and not be obliterated by the many NFT we see today". Relief.CryptoPunks paved the way for the flourishing NFT market, and although the project started from the beginning, it is very popular now to invest in individual characters already available only through the blockchain or intermediary market like Sotheby's or Christie's and can sell millions of dollars.
Conclusion
In this article, we have considered what Crypto Punks is. It may not be understandable for many people to realize what a heavy price to spend on a 24 x 24 resolution photograph means; today, however, having crypto-punks has a social standing for their owners among the Cryptocurrency market activists. This can be seen from the play their owners make on social media. We must wait and see what the future of the NFT Tokens, and especially the CryptoPanks project, will be. We suggest you join Persian Elite's VIP channel so that you can use the powerful signals that are analyzed by the biggest traders in the world on a daily basis.
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