Crypto punks are a collection of 10,000 Non-Fungible-Tokens (NFTs) which are built and exist in Ethereum blockchain.
Each of them shows a character that has its own unique traits and attributes, from skin color to a variety of accessories.
The project inspiration was the London punk scenes, the cyberpunk movement and the French music duo, Daft Punk.
Crypto punks are not useful for anything but they are seen as a form of digital art inside the crypto world.
Investors and crypto enthusiasts have loved this digital art idea, and their demand soared and so did their value.
The value of Crypto punk is widely dependent on the scarcity of its traits.
If you want to find a complete guide on what exactly are Crypto punk Non-Fungible-Tokens click here.
But let’s take things from the beginning.
What is the Crypto Punks value?
Every one of the 10,000 existing Crypto punks has different value due to the different traits and attributes they possess.
The more scarce an attribute it is the higher its value is going to be.
So, it is becoming obvious that there is not just an answer to the question of “what is the Crypto Punks value” but there are 4 different types of answers. The Price floor, the median price, the cheapest and most expensive punk NFT but also the crypto punks market cap.
Crypto Punks price floor
The term price floor in NFTs represents the lowest price that an NFT unit costs.
As of March of 2023 the cheapest Crypto Punk cost 65 ETH which is around $100,000.
The highest Crypto Punk price floor ever recorded was in October 2021 in which the cheapest Crypto Punk BFT available for sale was 125 ETH which was a price close to $430,500!
This is a valuable factor in order to understand the dynamic that the Crypto Punk project had.
We can also see that even during the bear market of 2022-2023 period the cheapest of those NFTs was available for sale at $100,000
This index may be valuable but it just gives a taste of Crypto Punks value.
So let’s move on to the next index in order to form a better understanding on the subject.
Average Price
As you already know, the price is different for every Crypto Punk available for sale depending on their distinct attributes.
The average sale price of a punk in 2022 was 331.1 ETH which translates into 550,863.75 USD.
The lowest and the highest price
The largest sale that ever occurred in a crypto punk happened on February 12 of 2022, with a price of 8000 ETH (valued $23.700.000).
This was the CryptoPunk #5822, one of the 9 alien punks and the only alien that carries a bandana.
On the contrary, the lowest sales of crypto punks are usually something more than $110,000.
More specifically, CryptoPunk #6383 was sold for 63,99 ETH ($109,000).
For more information about the most expensive and the cheapest crypto punks click here.
Crypto punks market cap
The market cap of a crypto asset refers to the total value of all cryptos right now.
Although it is a little difficult to calculate exactly the crypto punks market cap, because not all of them are available for sale right now so not all of them actually have a price right now.
Anyway, as of February of 2023, the official crypto punks market cap is 639,372.1 ETH which equals $1,062,779,805.92.
Those numbers are taken by crypto exchange platform CoinGecko .
What makes crypto punks valuable
There are a variety of different factors that make a crypto punk valuable.
For starters, we should mention that crypto punk NFTs by themselves have no utility at all.
Instead, their value stems from the fact that they are considered by many crypto investors and enthusiasts as digital art.
The value of each crypto punk character comes from its uniqueness, meaning that each one of them carries its own traits and attributes.
The more scarce an attribute it is, the more value adds to the crypto punk that owns that attribute.
For instance, some of the most valuable crypto punks are the alien type crypto punks.
This happens because there are only 9 alien punks in a collection of 10,000.
On the other hand, the attribute of a white male punk is among the most frequent in the series and as a result makes it less desirable.
Our verdict on what is the Crypto punks value
Over the last years, crypto punks are breaking one record after another when it concerns the price they have been sold.
Crypto investors and enthusiasts have gone crazy with these 24×24 pixel portrait-images.
The most expensive of them are sold for many millions of dollars while the less desirable cost around 100,000 USD.
Finally, the main factor to what makes crypto punks valuable is that each one of them has its own traits and attributes.
So, the crypto punks that own the most desirable and rare attributes ending up cost way more than those that have very common traits.
