How to Buy Cryptopunks NFT? The Complete Guide

A seed phrase is a string of random words that acts as your last backup piece of security. All 10,000 CryptoPunks were minted into NFTs and they’re now stored on the Ethereum blockchain, allowing owners to trade them. According to Larva Labs, the cheapest CryptoPunk you can get costs 34 ETH, which is a whopping $93,624 as of this writing.

Now that you have made up your mind about the Punk you want to buy, it is time to do the actual purchase. Add ETH to your MetaMask account from a crypto exchange. They became more popular than ever, breaking records in the NFT market. The trading volume and market cap of the project is now even comparable to top cryptocurrencies.

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Eight CryptoPunks have no defining attributes, and one (#8348) has seven attributes. Now you have your Ether, and it’s time to go to a marketplace. You can buy and sell NFTs from the primary market, Larva Labs. Anyhow, once you are on their website, you will find a link to connect your wallet to their platform.

CryptoPunks creators Hall and Watkinson sold nine CryptoPunks from their private collection last year at auction, through Christie’s. Here is a list of some CryptoPunks that are currently for sale, as well as their accessories and current market status. A CryptoPunk with multiple rare attributes can be worth a lot. For example, CryptoPunk #7804, an alien (9) wearing small shades (378), a hat (254), and smoking a pipe (317), fetched more than $7.5 million. Here’s a guide to popular NFT use cases that can help you learn about the usability of these tokens.

Bids

And the second-highest price 750 ETH (worth about $1.18M) was just sold yesterday. People’s passion for collecting CryptoPunks has not yet faded in the slightest. Here you will also see a transaction fee called the “Gas Fee”. This is the amount it costs to run your transaction on the Ethereum blockchain, which fluctuates according to the transaction congestion across the entire chain.

CryptoPunks are also offered by owners on other NFT marketplaces, and a number have even been sold at Sotheby’s, a globally renowned fine art auction house. As you can imagine, the era of free CryptoPunks is long gone. On February 15, 2022, the lowest priced Punk available was on the market for 70.95 ETH — or approximately USD 221,000 at the time.

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At the time of this writing, the least expensive Cryptopunk for sale is listed at 13.25 ETH (~$26,500). In fact, after refreshing my browser, the floor has already moved up to 13.30 ETH. Some non-fungible tokens have sold for ridiculous amounts of money –– the highest sold Cryptopunk sold for north of $7.5 million. It’s hard to justify that these prices will continue to rise, and many investors see NFTs as a bubble. One thing is certain, however; non-fungible tokens are here to stay, and the use cases for NFTs are quickly growing.

Cryptopunks is an NFT project released on the Ethereum blockchain by Larva Labs, and consists of 10,000 unique pixelated characters. Some are human, some aliens, some zombies and some apes. Each punk has certain attributes that are of a different level of rarity amongst the entire How to buy cryptopunk fleet. For example, exactly 961 punks have cigarettes in their mouths. Many investors see cryptocurrency as a more sound investment than digital collectibles. Digital collectibles are fun to collect, but their prices are highly speculative and offer little intrinsic value.

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When the wrapping process completes, the token is converted to ERC-721 standard. Now, you can list it on popular exchanges for sale or exchange. They are limited in quantity, which explains the massive rise in the NFT market cap over the past few months. Even if two NFTs look alike, their unique identity can be authenticated by blockchain.

• Lack of liquidity is a huge limitation in the crypto collectible industry.
• For example, only 44 punks have a beanie out of 10,000 punks.
• For example, CryptoPunk #7804, an alien (9) wearing small shades (378), a hat (254), and smoking a pipe (317), fetched more than $7.5 million.
• CryptoPunks are merely digital versions of physical collectibles, like baseball cards but without the century-long precedent.
• While some exchanges support NFT ownership, it is still advisable to create a digital wallet where only you can access its private key.

Each was randomly generated from a list of attributes, such as race, gender, whether or not they wear a beanie, etc. 9,000 were released to the public for free in 2017. At the time of this writing, the lowest current price for an available punk is 99 ETH (according to the Larva Labs website). The most expensive Cryptopunk was $11.7 million (USD), sold in a Sotheby’s auction in June 2021. A group of 9 were sold in a Christie’s auction for $16.9 million USD in May 2021. From within the Cryptopunks category, you will be able to search based on what’s currently for sale or for a specific type of avatar (female punks, alien punks, etc). Due to their rarity and early creation, Cryptopunks are some of the most valuable NFT assets available.

If you don’t already own cryptocurrency, you’ll need to use a cryptocurrency exchange to buy crypto with a bank account. Some popular U.S exchanges are Coinbase, eToro and Gemini. These exchanges offer several different cryptocurrencies, but if you plan on using OpenSea, then you should purchase Ethereum and send it to your Web3 enabled Ethereum wallet.

CryptoPunks can also have zero traits, but most tend to have two or three. You can see how the number of traits impacts both the value and scarcity of a CryptoPunk NFT in the image below. As a project inexplicably intertwined with the growth of the Ethereum blockchain, CryptoPunks is sometimes called the progenitor of NFTs. On 19th Feb, when the big sale happened, its daily volume hit ATH at $19.86M, as you can see in the chart below.