Cryptopunk NFTs are a collection of 10,000 unique 8-bit style pixel art characters on the Ethereum blockchain and in the world of cryptocurrency they have gained a lot of popularity.
Crypto Punks have become a cultural phenomenon in the world of blockchain and they are considered as a form of digital art.
Other than serving as digital art they have no other function or utility.
Each of these characters has its own distinct traits and attributes such as skin color, hairstyle or accessories.
Those unique traits are considered a major factor that affects the value of Crypto Punk NFTs since some of those are more scarce from others.
As a result, Crypto Punks price varies a lot based on their rarity, their unique traits but also on data from historical sales.
How much do crypto punks worth
In general, the prices of individual CryptoPunks ranged from a few thousand dollars for less desirable attributes to millions of dollars for the rarest and most coveted CryptoPunks.
Below we break down the most important factors that determine how Crypto Punks worth:
- Market demand – The law of market indicates that when the demand for a product goes up so does the price. Therefore, in periods when the crypto market is bullish the demand for crypto assets soars which equals high prices too.
- Rarity – The Crypto Punks characters are not all the same. The vast majority of them are humans but there are also three more different types that are very rare. These are 88 Zombies, 24 Apes, and 9 Aliens. So, it makes sense that those Cryptopunk types are more valuable.
- Specific attributes of each CryptoPunk – Except from types of Cryptopunks there are also 87 additional traits and each NFT has some of them. The more rare it is the attribute of the Cryptopunk the higher the price will be.
- ETH price – Crypto punks exist in Ethereum blockchain so they are bought and sold with Ether (ETH). The price of ETH itself is extremely volatile so 10 ETH in December 2022 equals 15.000$ while in December 2021 was worth 35.000$.
The most expensive Crypto Punks
Among the very expensive Crypto Punks are the rare types that are mentioned before, namely the “Zombie”, “Alien” and Apes.
Last on the list of most expensive Crypto Punks is White Male Punk type.
- Alien Crypto Punks – Those NFTs are the most rare in the collection of Crypto Punks. You can recognise them from their light blue skin color. CryptoPunk #5822 is one of the “Alien” types and also one of 500 characters wearing a bandana. Its nickname is “Blue Bandana” and holds the record for the highest price that a Crypto Punks ever sold. The deal happened in February 2022 and the price was 8.000 ETH which equals to 20 million dollars.
- Ape Crypto Punks – One more scarce type of Crypto Punk since there are only 24 of them. Many crypto punks have been sold for many millions. The highest record is hold by the CryptoPunk #5577 a character that wears a cowboy hat. The price that has been sold is 2,501 ETH (8.1 million dollars).
- Zombie Crypto Punks – CryptoPunk #7121 is one of the 88 “Zombie” types and is among the most expensive crypto punks ever sold. Its price was 1.180 ETH ($3.07 million) and sold in January 2022. Its unique characteristics are the red eyes and green skin.
- White Male Punk – Despite its last of scarcity, CryptoPunk #8865 has been sold for 450 ETH ($1.35 million ) in April of 2022. One characteristic that helped to increase its value was that it is one of the 350 Crypto Punks that have 2 accessories.
After breaking down which are the most expensive Crypto Punks we will continue by breaking down which are the cheapest Crypto Punks and for what reason.
Which are the cheapest Crypto Punks
After understanding what affects the value of Crypto Punks it is becoming more obvious that the majority of them share common traits and attributes.
As a result, a lot of them have way smaller prices in contrast with the more scarce Crypto Punk NFTs.
The cheapest Crypto Punks available for sale that have the less desirable traits or higher mint of numbers worth a few thousands of dollars or less.
Let’s take a look at the 3 cheapest Punks:
- CryptoPunk #6383 – Right now its value in dollars is 109,000 which equals 63,99 ETH. This punk has 3 attributes which are its mole which exists in other 644 punks, the Black Lipstick and Stringy Hair.
- CryptoPunk #5919 – which is a female punk and right now costs $111,190 (aka 65,2 ETH).The main traits are the Blue Eye Shadow, the Straight Hair and the Hot Lipstick.
- CryptoPunk #431 – One more female punk which is worth 65.49 ETH or $111,690. It has two attributes namely the Horned Rim Glasses and a Headband.
However, it is important to always keep in mind that the value of Crypto Punks and NFT in general, is highly volatile. The main factors affecting their price are the demand of the market, speculative actions and many other factors.
The prices above are more like an example in order to understand what moves Crypto Punks price.
Final thoughts on the most expensive Crypto Punks
The Crypto Punk NFTs is an interesting crypto project that doesn’t offer any utility but it serves as digital art in the blockchain environment. Each one of those 10,000 has its own distinct traits and attributes and for that reason some have been sold on a higher price than others. Among the most expensive are the more rare punk types like Alien, Ape and Zombie Crypto punks which have been sold in the future for millions of dollars. On the contrary there are also available some less desirable Punks whose value is around $100,000.
Image Source: Bybit
