CryptoPunks
{{pp-semi-indef|small=yes}}
{{short description|Pioneering non-fungible token on Ethereum}}
{{Infobox video game
| collapsible =
| state =
| italic title =
| title = CryptoPunks
| image = File:Cryptopunks general.jpg
| alt =
| caption = Six examples of the 10,000 randomly generated CryptoPunks
| developer = Larva Labs, now owned by Yuga Labs
| publisher =
| series =
| engine =
| platforms = Ethereum
| released = June 2017
| genre = Collectable
| modes =
| designer = John Watkinson & Matt Hall
}}
CryptoPunks is a non-fungible token (NFT) collection on the Ethereum blockchain. The project was launched in June 2017 by the Larva Labs studio,[https://www.larvalabs.com/ Larva Labs] a two-person team consisting of Canadian software developers Matt Hall and John Watkinson. The experimental project was inspired by the London punk scenes, the cyberpunk movement,{{Cite web|url=https://www.christies.com/features/10-things-to-know-about-CryptoPunks-11569-1.aspx?sc_lang=en#FID-11569|title = 10 things to know about CryptoPunks, the original NFTS | Christie's}} and electronic music artists Daft Punk. The crypto art blockchain project was an inspiration for the ERC-721 standard for NFTs and the modern crypto art movement, which has since become a part of the cryptocurrency and decentralized finance ecosystems on multiple blockchains.
CryptoPunks are commonly credited with starting the NFT craze of 2021, along with other early projects including CryptoKitties, Bored Ape Yacht Club, and the sale of Beeple's Everydays: The First 5000 Days. There are 10,000 CryptoPunk tokens total.{{Cite web|date=2019-04-16|title=Will Cryptocurrencies Be the Art Market's Next Big Thing?|url=https://www.nytimes.com/2018/01/13/arts/cryptocurrency-art-market.html/|url-status=live|archive-url=https://web.archive.org/web/20201215174019/https://www.nytimes.com/2018/01/13/arts/cryptocurrency-art-market.html|archive-date=2020-12-15|access-date=2021-01-08|website=The New York Times|language=en-US}}{{Cite web|title=CryptoPunks {{!}} Fortune NFTy 50|url=https://fortune.com/nfty-50/2021/cryptopunks/|access-date=2021-08-05|website=Fortune|language=en}}{{cite news |last1=Locke |first1=Taylor |title='Covid Alien' CryptoPunk NFT sells for over $11.7 million to billionaire buyer in Sotheby's auction |url=https://www.cnbc.com/2021/06/10/covid-alien-cryptopunk-nft-sells-for-11point7-million-in-sothebys-auction.html |access-date=9 December 2022 |work=CNBC |date=10 June 2021 |language=en}} On March 2, 2022, an anonymous user donated CryptoPunk #5364 to Ukraine's government Ethereum wallet public address to help fund the Ukrainian government against the Russian invasion of Ukraine.{{Cite news|url=https://www.theguardian.com/world/2022/mar/03/ukraine-to-issue-non-fungible-tokens-to-fund-armed-forces|title=Ukraine to issue non-fungible tokens to fund armed forces|newspaper=The Guardian|date=3 March 2022 |language=en-EN|last1=Milmo |first1=Dan }}
On March 11, 2022 it was announced that all of the CryptoPunks IP was acquired by Yuga Labs (parent company and creators of the Bored Ape Yacht Club project) for an undisclosed sum. Immediately, Yuga Labs announced they were giving full commercial rights to CryptoPunks owners.{{Cite web|url=https://www.theverge.com/2022/3/11/22973394/bored-ape-yacht-club-cryptopunks-meebits-nft|title=Bored Ape Yacht Club creator buys CryptoPunks and Meebits|website=TheVerge|date=11 March 2022 |language=en-EN}}{{Cite web|url=https://twitter.com/yugalabs/status/1502420714527334406|title=Yuga Labs Statement About CryptoPunks Commercial Rights|website=Twitter|language=en-EN}} On 7th May 2022 the transfer was completed, and the whole CryptoPunks marketplace was moved to the new Yuga Labs owned website.{{Cite web|url=https://cryptopunks.app|title=CryptoPunks|website=CryptoPunks.app|language=en-EN}}
In May 2025, Yuga Labs sold the intellectual property of CryptoPunks to the nonprofit NODE Foundation, an organization focused on the preservation of digital art. The financial details of the transaction were not disclosed, and representatives declined to comment. NODE had previously received a $25 million grant in April 2025 from investor Micky Malka and Becky Kleiner to support its mission of "building the future of digital art." Malka, who serves as the foundation’s chair, stated that CryptoPunks "sparked a cultural movement" and emphasized the foundation’s intention to "future-proof this landmark work" and make it more accessible.{{Cite web|url=https://techcrunch.com/2025/05/13/nft-phenom-cryptopunks-was-just-sold-to-a-nonprofit/|title=NFT phenom CryptoPunks was just sold to a nonprofit|website=TechCrunch|date=13 May 2025|access-date=17 May 2025}}
Concept
There are 10,000 unique CryptoPunks (6,039 male and 3,840 female{{Clarify|date=March 2023|reason=these numbers don't sum to 10000}}). Each one was algorithmically generated through computer code and thus no two characters are exactly alike, with some traits being rarer than others. They were originally released for free and could be claimed by anyone with an Ethereum wallet by paying only "gas fees", which were low at the time.{{Cite web|last=Abbruzzese|first=Jason|date=2017-06-16|title=This ethereum-based project could change how we think about digital art|url=https://mashable.com/article/cryptopunks-ethereum-art-collectibles|access-date=2021-10-13|website=Mashable|language=en}}
Most of the 10,000 CryptoPunks represent humans, but there are also three special types: Zombie (88), Ape (24), and Alien (9).{{Cite news|url=https://www.ft.com/content/f9c1422a-47c9-11e8-8c77-ff51caedcde6|title=CryptoKitties, CryptoPunks and the birth of a cottage industry|first=Chloe|last=Cornish|date=June 6, 2018|newspaper=Financial Times|access-date=January 26, 2021|archive-date=January 21, 2021|archive-url=https://web.archive.org/web/20210121213714/https://www.ft.com/content/f9c1422a-47c9-11e8-8c77-ff51caedcde6|url-status=live}}{{Cite web|url=https://www.pbs.org/newshour/show/how-blockchain-technology-could-revolutionize-the-art-market|title=How blockchain technology could revolutionize the art market|date=September 11, 2019|website=PBS NewsHour|access-date=January 26, 2021|archive-date=January 26, 2021|archive-url=https://web.archive.org/web/20210126123346/https://www.pbs.org/newshour/show/how-blockchain-technology-could-revolutionize-the-art-market|url-status=live}}
Controversies
= Flash loan =
In October 2021, a single NFT transaction was made for 124,457 Ether (US$532 million at the time of the sale) regarding CryptoPunk #9998, much higher than all previous NFT sales, leading to speculation on social media that this could have been some kind of scam, a security exploit or money laundering. Larva Labs said that the purchase was made with a flash loan where the NFT's owner bought the item from themselves with borrowed money, taking out and repaying the loan within a single blockchain transaction,{{Cite web|last=Islam|first=Foyjul|date=29 October 2021|title=A CryptoPunks NFT sells for an eye-popping $532 million - but the purchase isn't all it seems|url=https://markets.businessinsider.com/news/currencies/cryptopunks-nft-sells-over-500-million-void-larva-labs-ethereum-2021-10|url-status=live|website=Business Insider|archive-url=https://web.archive.org/web/20211029120756/https://markets.businessinsider.com/news/currencies/cryptopunks-nft-sells-over-500-million-void-larva-labs-ethereum-2021-10 |archive-date=2021-10-29 }} subsequently invalidating the sale from the asset's historic and from all the related statistics.{{Cite web|title=CryptoPunks: Details for Punk #9998|url=https://www.larvalabs.com/cryptopunks/details/9998|website=LarvaLabs}}
= Sotheby's 104 CryptoPunks auction =
In early 2022, a Sotheby's auction for a single lot of 104 CryptoPunks was announced.{{Cite web|url=https://www.barrons.com/articles/single-lot-of-104-cryptopunks-could-net-more-than-20-million-01644350747|title=Single Lot of 104 CryptoPunks Could Net More Than $20 Million |work=Barron's |last=Block |first=Fang |date=8 February 2022 |access-date=23 March 2022}} The auction took place on 23 February 2022, but its seller (0x650d) changed their mind 23 minutes after the auction began and decided to withdraw the auction to keep the whole lot.{{Cite web|url=https://www.barrons.com/articles/sothebys-withdraws-sale-of-104-cryptopunks-at-sellers-request-01645664443|title=Sotheby's Withdraws Sale of 104 CryptoPunks at Seller's Request |work=Barron's |last=Schultz |first=Abby |date=23 February 2022 |access-date=23 March 2022}}
See also
References
{{reflist}}
External links
- [https://www.larvalabs.com/cryptopunks Official website]
{{Cryptocurrencies}}