with this present Cryptopunk Guide we look forward to delving into the unique digital characters known as cryptopunks. Which we addressed a few months ago when their unusual price increase What a surprise to many.
Let us bear in mind that the cryptopunks they are not recent. If not, they already have time in the DeFi Market and Non-Fungible Tokens (Non-Fungible Tokens / NFTs). Since, the project was launched in 2017 by the company Larva Labs, which is based in New York City. And that it was founded in 2005 by Matt Hall and John Watkinson.
And before entering fully into today's topic about the cryptopunks with this Cryptopunk Guide that we elaborate mainly for beginners, we remind you that we have more guides and publications on other similar topics, just as useful and interesting. Therefore, we will leave immediately below, the following links to some of them. So that they can easily explore them whenever they want:
"The CryptoPunks project has seen an exorbitant increase in trading volume to skyrocket the price of these pixelated faces into the stratosphere of sanity. Or maybe not so much. The punkiest collection of images in the crypto world is already a name in capital letters of the list of NFT (non-fungible token) phenomena".
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What are NFTs?
Since, this Cryptopunk Guide is mainly oriented to Beginners, it is worth clarifying first, albeit briefly, that they are the Non-Fungible Tokens (NFTs).
Un «Non-Fungible Token», in Spanish, or “Non-Fungible Token”, in English, and mostly known by its English abbreviation, «NFTs», are one of many outstanding elements within the scope DeFi (Decentralized Finance).
Technological area that, as many already know, is a type of Open source financial ecosystem and a technological trend that revolves around the already mature Blockchain Technology about the financial world. And that every day more, it is strengthened more due to the rise of the Cryptocurrencies and the popularity of NFTs
Basically, and in simple words "NFTs" consist of tokens (digital tokens) inside one Blockchain that are typically used as a proprietary, non-duplicatable digital certificate for a digital asset especially. That is, they are used as a kind of Smart Contract generated via software to ensure a digital asset.
However, and to complement the concept of NFT a little more, we will cite the concept exposed on the website of the Binance Academy on NFTs:
"A non-fungible token (NFT) is a type of cryptographic token on a blockchain that represents a single asset. These can be fully digital assets or tokenized versions of real-world assets. Since NFTs are not interchangeable with each other, they can function as proof of authenticity and ownership within the digital realm.".
Cryptopunk: All About Digital Punk Characters
From
Es some brief informative tips we can say and highlight from the cryptopunks following:
- Cryptopunks are 10000 unique collectible characters with proof of ownership stored on the Ethereum blockchain, which were created in 2017 by the company Larva Labs, property of Matt Hall and John Watkinson.
- They are considered one of the first examples of a Non-Fungible Token (NFT) on Ethereum. And they served iInspiration for the creation of ERC-721 standard, that today, drives most of the collectibles on Ethereum and digital art in the Blockchains.
- when they were generated were purchased for free, But currently must be purchased from their current owners through the market integrated in its block chain.
- when they went algorithmically generated,The majority obtained appearance or gender of (men) boys and women (girls) with the characteristic punk look. However, there are other slightly different or rare (mixed) ones, such as ape, zombie, and alien skins.
Features
- The characters (punks) They stand out for having colored backgrounds. The ones with a blue background They express that they are not for sale or have current offers. The who have a Red background express that they are available for sale by their owner. While those with a purple background They express that they have an active offer by third parties.
- Every punk has their own profile page that displays its attributes as well as its owned/sold status. For example, him first character (punk) of number 0000 has the next profile, Whereas the last character (punk) of number 9999 has the next profile.
- They were created using the Ethereum platform and technology, instead of that of Bitcoin, since, only the first for that time it allowed the execution of a code that everyone could execute and see the result obtained. To then agree that the code was executed properly and fairly for everyone.
Operations
- Acquiring a Cryptopunks is really simple. You only need to install Dappradar, Which is a plugin for Web browsers (Brave, Chrome, Edge and Firefox). In such a way, to be able allow websites (authorized by users) to access the necessary and owned Ethereum account.
- for your purchase, obviously they must be stored in said MetaMask wallet, funds in ether (Crypto native to Ethereum) so that through the buttons on this you can bid, buy and sell punks directly from your interface.
- The cryptopunks unlike current NFTs, nor fight, nor can they be placed in «staking». That is, there is no point in blocking them or storing them in deposit mode to receive rewards. The only thing that can be done with them is to acquire them, enjoy them, and if necessary transfer, exchange or sell them.
Stores
As of the publication date of this article, interesting facts about his trading are:
- The Cryptopunk with the highest value achieved is the number 4156. It fetched a price of approx. 2.500 ETH transaction, which meant more than 10.26 million for this moment (December, 2021).
- By the year 2022, one of the Top Rated Cryptopunks has been the number 2681. It fetched a price of approx. 900 ETH transaction, which meant more than 3.07 million for this moment (January, 2021).
- Currently, you can get cryptopunks for minimum sale price of approximately 62,5 ETH ($206.121,87 USD) and can be found shopping deals made for an average value of 52.3 ETH ($172,485.00 USD).
- And finally, it is worth noting that the average selling price of a punk over the last year it has hovered around an average price of 55,23 ETH ($182.157,14 USD). Meanwhile he total value of punks sold during the last year is 645.741,14 ETH ($2.129.621.977,00 USD).
No two CRYPTOPUNKS are exactly alike, and each of them can be officially owned by only one person on the blockchain. Ethereum . Originally anyone with an Ethereum wallet could claim them for free, but the 10,000 was quickly claimed. They must now be purchased from someone through the marketplace which is also integrated into the blockchain.
Summary
In short, we hope that this Cryptopunk Guide be very useful for those who did not know the NFT called cryptopunks. And also for those who feel motivated to learn about everything related to the DeFi scope, especially the Cryptocurrencies and NFTs.
Otherwise, as can be seen, the Cryptopunks and their market (trade), they are not only fashionable, but also on the rise. Therefore, very surely many of its already owners will be able to continue seeing a Rise in the value of your Cryptopunks. And many of those who invest in one today could be seeing the same thing in the near future.
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