The CryptoPunks have been on the Ethereum Blockchain for more than half a year now, but now prices are exploding. The CryptoPunk #7804 was sold a few hours ago for 12 ETH (14,383.92 USD). Incredible.
The success of the CryptoPunks is certainly also supported by the successful Cryptokitties. The market capitalization of Cryptokitties is currently around 18 million USD and the most expensive kitty #18 was sold in December 2017 for 253 ETH (300,000 USD). The market capitalization of the CryptoPunks is probably in the low six-digit range, I have not yet found a reliable source.
The 12 most expensive CryptoPunk transfers
If the CryptoPunks develop in a similar direction to the Cryptokitties, there is still a lot to expect. Everything is possible in the odd crypto world. Here are the 12 most expensive CryptoPunk transfers with a total value of over 140,000 USD:
› CryptoPunk #7804 / 12 ETH (14,383.92 USD)
› CryptoPunk #5905 / 10 ETH ($12,236.50 USD)
› CryptoPunk #6089 / 10 ETH ($12,236.50 USD)
› CryptoPunk #5790 / 8 ETH ($9,789.20 USD)
› CryptoPunk #7523 / 8 ETH ($9,789.20 USD)
› CryptoPunk #5822 / 8 ETH ($9,789.20 USD)
› CryptoPunk #4178 / 8 ETH ($9,789.20 USD)
› CryptoPunk #2890 / 8 ETH ($9,789.20 USD)
› CryptoPunk #3100 / 8 ETH ($9,789.20 USD)
› CryptoPunk #6965 / 7.9 ETH ($9,666.84 USD)
› CryptoPunk #2924 / 7 ETH ($8,565.55 USD)
› CryptoPunk #9280 / 6.75 ETH ($8,259.64 USD)
CryptoPunks as virtual collectibles?
The number of CryptoPunks is limited. Here are some of the 10,000 CryptoPunks:
Larva Labs, the creators of CryptoPunks about this project:
"We have written code that lives on the blockchain that anyone can use to buy and sell Punks with anyone else in the world. An interesting aspect of this system is that we no longer have any control over the code running CryptoPunks! Once we released it onto the blockchain it became permanently embedded there and can no longer be modified by anyone." - source
With the Cryptokitties I actually made 2,500 USD in less than 2 weeks. But I won't buy a CryptoPunk. I was just able to get rid of my "portfolio" of Cryptokitties when the next day the prices collapsed. That was very close. But it was fun.
Are the CryptoPunks just unnecessary trash, which will soon disappear anyway, or should the crypto community keep an eye of these virtual collectibles, what do you think? For Ethereum and thus the cryptocurrencies in general, this is basically a very nice press work, isn't it? I would be very interested to know what you think about it.
So, are you gonna buy a CryptoPunk?
Kind regards,
Oliver
Pictures: © Larva Labs
Since it is collectible, it's value could only be determined by the communities. Similar to stamps, the original function might be long gone for old stamp, but the collectible value is much higher. Anyway, good article, I just found out about this new odd crypto. :D
I like your comparison with the stamps. That's probably the case.