What Are CryptoPunks?
CryptoPunks are non-fungible tokens (NFTs) on the Ethereum blockchain. They are widely recognized for sparking the 2021 NFT craze alongside other early projects like CryptoKitties and Bored Ape Yacht Club.
Background
Launched in June 2017 by Larva Labs, a duo of Canadian developers, CryptoPunks drew inspiration from the punk scenes in London, the cyberpunk movement, and Daft Punk.
How It Works
CryptoPunks have been used in various ways, from being sold and traded to being donated for causes such as funding the Ukrainian government. With 10,000 tokens, the project became a defining part of the crypto art movement and greatly influenced the ERC-721 standard for NFTs. In March 2022, Yuga Labs, the parent company of Bored Ape Yacht Club, acquired the CryptoPunks IP and granted full commercial rights to CryptoPunks owners. The entire CryptoPunks marketplace was later moved to a Yuga Labs-owned website.
Key Takeaways
- CryptoPunks are non-fungible tokens (NFTs) on the Ethereum blockchain and played a significant role in the 2021 NFT craze.
- Launched in June 2017 by Larva Labs, these NFTs drew inspiration from the punk scenes, the cyberpunk movement, and Daft Punk.
- They have been used in various ways, including sold, traded, and donated for causes.
- In March 2022, Yuga Labs, the parent company of Bored Ape Yacht Club, acquired the CryptoPunks IP, granting full commercial rights to CryptoPunks owners.
- The entire CryptoPunks marketplace was later moved to a Yuga Labs-owned website.
