Welcome to the modern CryptoArt Movement.

CryptoArt is digital artwork associated with unique and rare tokens that exist only on the blockchain. Digital scarcity is the main concept of this idea. This allows for people to buy, sell and trade digital artwork as if they were physical pieces of art.

So, what are CryptoPunks?

CryptoPunks are unique characters stored on the Ethereum blockchain. Blockchain is a data structure that stores transactional records. Each transaction, or block, is linked together to form a decentralized and secure digital ledger.

There are 10,000 unique CryptoPunks and no two are the same. Each CryptoPunk can be owned by an individual on the Ethereum blockchain.

The average bid on one CryptoPunk in the last year is over $20,000.

Are you punking kidding me?

No, we’re not. One recently sold for over $761,000.

Now imagine… they were giving these CryptoPunks away for free just a few years ago.

Yes, that’s right. You were able to receive these for free with an Etherum wallet. Since then all 10,000 CryptoPunks have been claimed thus now biding by the same laws of supply and demand.

What do these CryptoPunks look like?

They are 24×24 pixel art images that are generated through an algorithm. Most of these images are guys and girls but there are some rarer images that represent aliens, zombies, and apes.

Each CryptoPunk has its own profile page that outlines its attributes as well as its for sale/ownership status.

Where do I find them?

Since all of them are claimed you must now purchase them on Larvalabs.com via the marketplace that is also embedded on the blockchain. In this market, you can bid on, buy, and list your CrytpoPunks for sale.

How do I know which CryptoPunk is up for sale or already claimed?

Each Punk in the market has a colored background. A blue background means that CryptoPunk has been claimed, a red background means that CryptoPunk is available for sale and a purple background means there is an active bid on that CryptoPunk.

How do I buy a CryptoPunk?

First, you need to get some Ethereum. Larvalabs does not allow for purchases to be made via credit or debit card. It only accepts Ethereum.

Below is the 3 step process you need to take in order to attempt to buy a CryptoPunk according to Larvalabs.com:

  1. Download and install a Chrome browser plugin called MetaMask. This will allow websites (that you authorize) access to your Ethereum account.
  2. If you made a new account, buy some Ether. The MetaMask plugin has a button that will allow you to buy Ether from Coinbase.
  3. Once you have the plugin installed, this website will recognize it and add buttons that allow you to bid on, buy and sell punks directly in the interface.

Now that you have an understanding of CryptoPunks, go check them out for yourself at Larvalabs.com.

Don’t punk out!

Categories: NFTs

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