Before CryptoKitties, there were CryptoPunks.
Launched in the summer of 2017, the concept was simple.
Strictly 10,000 punky faces – each of which had a random number of attributes to make a 24×24 pixel image – were procedurally generated on the Ethereum blockchain and sold.
Since then, a small but growing number of collectors – starting with tens but now over 50 daily active users – have sprung up, buying and selling these items.
In total, these 10,000 CryptoPunks are now distributed between 850 unique wallets and the average price per punk has risen to well over 1 ETH.
Looking at the value of the top 10 CryptoPunks, nine of them were traded in 2020 including 100 ETH ($21,000) for punk #6487, which has no attributes, and 85 ETH ($18,000) for punk #8348, which has seven different attributes.
And that’s the total value of CryptoPunks trading hit an all-time weekly high of $344,000 in late May.
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We will continue to watch the collectibles space as it develops and grows. Make sure you bookmark DappRadar and sign up to our newsletter below to get updates direct to your inbox.