CryptoPunks was released in June 2017 as one of the first non-fungible tokens on the Ethereum blockchain. The project was developed by American studio Larva Labs, a two-person team consisting of Canadian software developers Matt Hall and John Watkinson.First spotted by crypto analytics firm DappRadar, the lowest-priced CryptoPunk available per creator Larva Labs' own tracker is currently 39 ETH, which is about $108,000 at the current exchange rate as of this writing.Now, the cheapest available CryptoPunk is listed for 67.67 ether, or about $225,000, according to Larva Labs. The NFT market is untested and speculative.The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed.CryptoPunks are traded as NFTs, which means that their value grows through public perception, much like regular art trading. Each CryptoPunk has a unique aesthetic, which adds to the collective value of the digital asset. Larva Labs' overall transaction volume is at least $200 million.
Larva Labs, the creator of CryptoPunks, just signed with United Talent Agency (UTA) in a representation deal that will bring one of the earliest and most iconic NFT projects into the entertainment and branding worlds.
