![]() ![]() However, when the crypto market exploded, so did DeFi and NFTs. In the months after launching, the Punk economy was confined to a small community of crypto enthusiasts. Fast-forward to June 2021, an Alien Punk that carries gold earrings, a red knitted cap, and a medical face mask was sold for a whopping $11.7 million! How much have CryptoPunks sold for? ![]() ![]() And they were all claimed for FREE during the launch. It is possibly the first work of art that comes with a self-contained mechanism for recording and transferring its ownership. Larva Labs, their software company based in New York, launched CryptoPunks on 23 June 2017. According to them, CryptoPunks are almost an ERC-20 token. They eventually realized that the best way forward was through blockchain technology, which had by then made a breakthrough in digital ownership. Matt and John explored how CryptoPunks could find a place in the digital art market. But let’s face it, they were too interesting for that. They were initially to be used for a smartphone game or an app. Each of these had randomly generated distinct traits which added to their eccentricity and defined their personality. When Matt Hall and John Watkinson came up with a software program that could spawn thousands of odd digital characters, they didn’t know it was going to change their world or the world. That is, they are 24×24 pixel fun little pop art portraits of punky guys and girls generated algorithmically and tokenized. To put it simply, CryptoPunks are 10,000 unique collectible characters stored on the Ethereum blockchain with proof of ownership. They sell for hundreds of thousands of dollars today. If you have heard about NFTs, chances are, you have heard about CryptoPunks too. The most relevant example being CryptoPunks, the unabashed misfits that ignited the NFT movement. No matter how much fame the work amassed, the artist ends up making very little money.īlockchain technology overhauled the collectible industry. Each of which roams across the Internet, lives on multiple digital devices, and breeds more replicas. However, it can breed thousands of replicas in a matter of a few seconds. The digital art may have taken days to create. A digital file, once made on software, can be easily replicated. They hold distinct values.ĭigital scarcity is remarkable. Even if two NFTs look alike, their unique identity can be authenticated by blockchain. They are limited in quantity, which explains the massive rise in the NFT market cap over the past few months. On the other hand, crypto collectibles are rare. They are identical and stand in for each other. The next week, you bought one bitcoin from an exchange and forwarded it to your friend. For example, you bought one bitcoin from your friend and spent it on something. ![]() While cryptocurrencies like bitcoin are scarce, they can be exchanged for one another. They are characterized by rarity and non-fungibility. The latest trend to cash in on this bizarre human nature is crypto collectibles - unique digital assets stored on a blockchain. The unique artifacts dug out from early civilization cities prove that. History tells us that humans have always depended on materials to define their identity and personality. What are crypto collectibles and non-fungible assets? Step 2: Connect your wallet to Larva Labs.Buying CryptoPunks from the official website.CryptoPunk counts and traits are now immutable.London punk scene inspired the creators.Only one person can own a CryptoPunk at a time.What are crypto collectibles and non-fungible assets?.Although the past has faded away for many Chibis, there are still those with a yearning to adventure out beyond the confines of society, to search for these ancient relics in the hopes that they can score big or to develop new skills and eventually achieve Legendary Chibi status. Remnants of The Orb and cargo from a mysterious ship scattered across planet Hoop after the incident, and for generations Chibis have scoured the surface of their enormous planet, in the hopes that they can find a moon shard or a rare piece of gear to help them during their Primal Hoop rituals. Countless generations ago, before the formation of the Unity, and the creation of the Primal Hoop games, a catastrophic incident destroyed planet Hoop’s sacred Orb and catapulted Chibi Dino society onto a new path. Chibi Dinos live, eat, and breathe this now ancient activity of Primal Hoop. Planet Hoop, the home planet of Chibi Dinos, is a strange and distant place where a basketball-like game is at the center of society. ![]()
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