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Gross sales of 1.05M Ether (worth $266M)
10,000 unique avatar images issued as NFTs on the ethereum blockchain, the project that inspired the modern crypto art movement. cryptoPunk is one of the earliest and most iconic examples of "irreplaceable tokens" minted on ethereum, a success story that powers most of the digital art and collectibles on the chain. The success story powers most of the digital art and collectibles on the chain.
CryptoPunks have made international headlines and have been featured in prestigious international auctions at Christie's and Sotheby's, and have even made their way into the permanent collections of major art museums such as the ICA in Miami, the Pompidou Center, and the Los Angeles Museum of Art.
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Legends in the virtual world
The Block reports that an NFT piece, "CryptoPunk 3100," is up for auction with an offer of 35,000 ETH, or about $90.5 million, which, if accepted, would make it the world's highest-priced NFT piece.
Pictures of skyrocketing prices
Ape Punk, number 2140, also changed hands on the 31st for a whopping 1,600 ETH (about $3.92 million), and it was purchased by wine entrepreneur and angel investor Gary Vinachak, involved in leading investments in tech companies such as Uber, Birchbox, Snachat, Facebook, Twitter and Tumblr.
Gary Vinachak.
CryptoPunks are somewhat like the blind box products that are popular nowadays, or earlier card games. Of the 10,000 CryptoPunks avatars, there are some that seem extremely special. There are 9 alien avatars, 24 ape avatars, 88 avatars from the zombie series, and the rest are 3,840 female avatars and 6,039 male avatars.
class blind box economy
Why are CryptoPunks so expensive and valuable?
CryptoPunks have come to be seen as an investment and a status symbol. In fact, GMoney says he purchased his CryptoPunk because he wanted the status that comes with it. "With NFT, by posting it as my avatar on twitter and discord, I can quickly 'bend' a picture ...... It has the same effect as wearing a Rolex in real life, but digitized. effect, but digitized,"
People in the NFT community tend to view the owners of CryptoPunks as builders and visionaries. Rightly or wrongly, they are seen as people who saw where NFT was going and were ahead of the curve. As a result, they are given assumptions of trust and status. In fact, many collectors have created entire personas, programs, communities, and brands around individual CryptoPunk NFTs.
Additionally, given their history, and the way they have grown and evolved from their early days with the Ether blockchain, some consider owning a punk to be like betting on the importance of NFTs and the Ether blockchain. Punk's early backers, for the most part, didn't stumble upon the project by accident. As GMoney puts it, "You have to be exposed to cryptocurrencies early to participate in CryptoPunks."
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