CryptoPunks are collectable pieces of crypto art represented by NFTs on the Ethereum network. There are 10,000 small, 8-bit-style punks, each with its own unique features. As one of the earliest well-known NFT initiatives, they inspired many crypto artists and even the development of the ERC-721 token standard for digital collectibles. The project received attention in 2021 when certain CryptoPunks were sold for millions of dollars, making them some of the most expensive NFTs.
CryptoPunks is the brainchild of New York-based Larva Labs, which was created by Matt Hall and John Watkinson. The project started in 2017 as an experiment into the value of NFTs and art, eventually helping to popularise what is now known as crypto art.
The punks were first offered and distributed for free. All you had to do to receive one was pay the relevant Ethereum transaction fee. Since then, the popularity of these artworks has surged, as has the popularity of NFTs in general.
