The average sale price among them, as of March 2021, is 3,000 ETH. This makes some Punks rarer - and more coveted - than others.įor example, there are just nine alien-type CryptoPunks.
Nft space punks skin#
The various hairstyles, genders, accessories, skin tones and even species appear at different frequencies throughout the set. It is so simplified that it either works or it doesn’t.”Īlthough CryptoPunks are computer-generated and based on obvious templates, each character’s specific attributes mean that no two are identical. You can’t hide a lack of artistic skill, understanding of color theory and need for contrast when you only have pixels to work with. You don’t need to have studied art history to know what you are looking at. “Pixel-art like this - generative or non-generative - is just easy to read. In correspondence with OKX Insights, Myoo, a pixel artist and creator of the popular CryptoPunks-inspired CyberKongz project, commented on the appeal of the medium:
With so few digital brush strokes to work with, details are minimal. Inarguably iconic as they have become, it would not be unfair to describe the CryptoPunks’ art style as basic. As one of the first NFT projects on the Ethereum blockchain, CryptoPunks predates both the ERC-721 and ERC-1155 standards that would later become commonplace in the rapidly expanding sector.Įach CryptoPunk is a simple 24-by-24 pixel headshot. Creative technology startup Larva Labs launched the collection in June 2017.
Nft space punks series#
What are CryptoPunks?ĬryptoPunks is a series of nonfungible tokens on Ethereum representing ownership of 10,000 unique, generated characters. We also question whether the massive sales figures reflect genuine demand or are part of something more sinister.įinally, we conclude by looking at the similarities between the current nonfungible token sector and the ICO market of 2017. In answering that, we consider the CryptoPunks backstory, their scarcity and their role as digital status symbols in the cryptocurrency industry - and beyond. Just what makes these simplistic pixel portraits worth millions of dollars? We then turn our attention to the CryptoPunks value proposition. After introducing the pioneering project, we look at the market’s growth since its launch in 2017.
In this OKX Insights article, we delve deep into the phenomenon that is CryptoPunks. The current highest-priced pixel-art punk portrait sold for 4,200 ETH on March 11. Of the many headline-grabbing events, multiple CryptoPunks sales of $1 million (or more) raised eyebrows. This month, NFT mania brought cryptocurrency closer to the mainstream than ever before. An in-depth analysis of the early NFT project CryptoPunks and the contexts surrounding recent six-figure sales.
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