CryptoPunks are collectible pieces of crypto art, represented by NFTs on the Ethereum blockchain. There are 10,000 small, 8-bit-style punks, all with unique features. As one of the first famous NFT projects, they inspired a lot of crypto artists and even the development of the ERC-721 token standard for digital collectibles. The project became more popular in 2021 after some CryptoPunks were sold for millions of dollars, making them some of the most expensive NFTs.
At first glance, these small, pixelated faces in tiny squares don’t look particularly special. Some are smoking pipes. Others have hats. Some are even aliens. But looks can be deceiving when it comes to NFTs.
Just owning one of these funny-looking punks could probably buy you anything from a small apartment to a vast mansion. Limited to 10,000, these 8-bit-style CryptoPunks are a collection of NFTs that are currently in huge demand. They don’t fight, stake, or do anything other than be the little punks they are. CryptoPunks also happens to be one of the first NFT projects to have existed.
Who created CryptoPunks?
A combination of different attributes mixed together makes sure each one of the 10,000 is entirely unique.
The punks were initially available and distributed for free. All you had to do to get one was pay the associated Ethereum transaction fee.
How do CryptoPunks work?
In a punk fashion, the team ended up modifying the ERC-20 code just enough to produce non-fungible items, acting as an inspiration for the ERC-721 development shortly after.
If we look at the token on Etherscan, we can see the Max Total Supply of 10,000. Although the punks show as ERC-20, they are not identical tokens.
How do you know which one you have, though? Well, each punk’s token contains metadata that refers to its position in the composite image. For instance, CryptoPunk #7804 is the 7804th punk in the large, composite image.