WOW! Someone Bought All The Punks!!!!
Here’s some big news: someone bought all the Punks in the market! But, who is the big whale? This is an important piece of history in the making right here! 31 July 2021 is a historic day in the NFT world when CryptoPunks were all sold. Was it one person, a group or a glitch?
Sources say that as of August 2021 Gary Vaynerchuck – an American entrepreneur – owns the most CryptoPunks (59 to be exact). There are only a few CryptoPunks and the demand for them is high, which makes them a very valuable NFT to own.
This news has made people go crazy. It’s chaos! Has anyone tallied the bill? If not, my estimates are driving me crazy! Rumour has it that the total in sales comes to about $5.5 million! For most NFT enthusiasts this news has come as a major surprise. Within no time (a mere 60 seconds) the Punks have become worth so much!
History of CryptoPunks
Why is CryptoPunks Becoming an Obsession and Selling at Such High Prices?
In June 2017, Canadian software developers, Matt Hall and John Watkinson, released one of the first non-fungible tokens – the CryptoPunks. These eventually became the most successful NFTs.
Matt and John met in college in Toronto and collaborated to create Larvalabs in 2005. Since then, they’ve created mobile applications for various companies and even worked for Microsoft and Google writing programs for Android and iOS.
In 2007, when NFTs were still new on the Ethereum network, they designed the CryptoPunks to give a different vibe. These unique NFTs were designed to be misfits and non-conformists.
Their inspiration came from the films Neuromanser and Voidrunner and The Punk Movement of the 70s. Watch this video to learn more:
They designed the digital character as a test and generated 10,000 24×24 pixel unique punk arts. Anyone can download them, but there can be only one owner on the Ethereum network. They created a way to buy and sell their token. They had no expectation that the project would be as successful as it is. What sold for $100 soon sold for as much as $3,000, and today they are selling in the millions.
People were making stamps out of these and selling them at auctions! In no time, they became an obsession and people were racing to own them at any cost.
The worth of some of the most-wanted NFTs will skyrocket. As it is, the numbers are already rising. According to Larvalabs, current prices are:
According to Cryptoslam, we know the five most valuable CryptoPunks, as well.
Business Insider reported on August 24 that CryptoPunk #7252 sold for $5.3 million. This makes it the fourth most valuable CryptoPunk overall and the most valuable Zombie CryptoPunk you can find.
For now, this is all we know folks! Keep reading our blogs for updates if any!
