Cryptopunk: “Bitcoin” in NFT Field

During this period of time, among the various NFT projects, except for Axie Infinity, I am afraid that the news related to CryptoPunks has been heard the most.

Especially in the past two weeks, news from institutional investors’ crazy buying of cryptopunk has set off a frenzy overseas.

In the field of NFT, I am afraid that the consensus and perception of the second project can hardly be comparable to cryptopunk.

In the book “Blockchain: The Soul of the Metaverse”, in addition to platform projects, in all other categories, the first one I introduce is cryptopunk. One very important reason why I arrange this is that this project has been defaulted by many players as the “Bitcoin” in the NFT field.

In my opinion, there are two important reasons why cryptopunk has its current status:

First of all, its early growth process is very similar to that of Bitcoin: In the early days of Bitcoin, anyone could dig their own computer. At the beginning of the issue of cryptopunk, anyone with an Ethereum wallet can apply for free, and both are “0” starting points.

Secondly, the development process of cryptopunk is very similar to Bitcoin, and both are a process of gradual accumulation and precipitation of consensus and cognition. Bitcoin was promoted by geeks in the early circle. In the early days of cryptopunk, it was also a very popular NFT toy by geeks in the circle. It was traded very frequently among insiders and then started with the intervention of a series of top institutions. break out.

Due to the huge gap in information at home and abroad, there are not many introductions to cryptopunk in China. In fact, overseas, almost all well-known top NFT players have cryptopunk.

Compared with the invisible and intangible digital currency, every cryptopunk has its own avatar, which actually gives it a meaning beyond the digital currency.

Today, when social media is so developed, avatars have become a resource that almost everyone of us uses every day. Overseas is Twitter and Facebook, and domestic is WeChat and Weibo. Each account has its own avatar. Today, the avatar is no longer just a picture but a logo and symbol of a person in the virtual world.

Because this field of NFT players are concerned, directly connected with a cool head NFT social media as their avatar is not only the most direct way to identify themselves, but also to attract the most direct enthusiasts, exchange of media referrals.

It is under the influence of this trend that cryptopunk has begun to be increasingly used by overseas top-tier players as their social media avatars. This trend is particularly hot this year and has attracted the attention of the world’s two top auction houses Sotheby’s and Christie’s.

In the first half of this year, the two top auction houses both launched auctions of rare cryptopunks and achieved amazing results. The buyers are all investors from traditional sectors. This makes the cryptopunk out of the circle quickly overseas.

Just in July, Curtis McDowald, a fencer of the U.S. Olympic delegation, changed his Twitter profile picture to Cryptopunk No. 9362, and declared on Twitter that he would bring cryptopunk to Tokyo and bring sports and digital currency to the world. The boundaries are pushed to new dimensions.

 

Cryptopunk: "Bitcoin" in NFT Field

 

Then Eli Schenkel, a fencer of the Canadian Olympic delegation, also began to follow suit.

Cryptopunk: "Bitcoin" in NFT Field

Cryptopunk is not only out of the circle in sports, but also in the forefront of other trends. The following is a crypto-punk mural painted by graffiti artists on a wall in Brooklyn, New York:

Cryptopunk: "Bitcoin" in NFT Field

Under the influence of this out-of-circle wave, the price of cryptopunk is also soaring. Probably in June of this year, the cheapest cryptopunk price was only 15 Ethereum, and as of writing, the price of the cheapest cryptopunk has risen to 44 Ethereum.

Is there a bubble in this price? I think there is a little bit at the moment, but in the long run, its price still has a lot of room to rise.

But at such a high price, how can ordinary investors participate?

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/cryptopunk-bitcoin-in-nft-field/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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