CryptoPunks Becomes Second Ethereum-Based NFT Project to Hit $1 Billion in Lifetime Sales

CryptoPunks — the popular non-fungible token (NFT) project — breached the $1 billion (roughly Rs. 7,330 crores) mark in all-time sales on August 28 to become only the second NFT project to have achieved the feat. CryptoPunks, which consists of 10,000 Ethereum-based NFTs, currently takes the second spot with an all-time sale of a staggering $1.16 billion (roughly Rs. 8,500 crores), according to NFT aggregation site CryptoPunks is now ranked after heavyweight Axie Infinity, whose sales stand at $1.65 billion (roughly Rs. 12,090 crores).

CryptoPunks surpassed the $1-billion sale mark only weeks after Axie Infinity reportedly achieved the feat on August 8.

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In the last 24 hours, according to data on CryptoSlam, CryptoPunks have made sales worth $25 million (roughly Rs. 180 crores). Only Art Blocks surpassed the sales at $28 million (roughly Rs. 200 crores). The figures in the last seven days also show the dominance of CryptoPunks in the NFT market, with chart-topping sales of over $408 million (roughly Rs. 2,990 crores).

CryptoPunks was created in 2017 by Larva Labs, a software company run by American developers Matt Hall and John Watkinson. Initially, the duo intended the NFT characters, called Punks, to be used in a videogame but later released them as NFTs. The platform currently boasts of over 10,000 Punks, out of which 6,039 are males and 3,840 are females. There are 88 Zombie Punks, 24 Ape Punks, and 9 Alien Punks. Hall and Watkinson kept 1,000 of these Punks for themselves and then allowed the community to claim the rest.

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No two Punk are alike. Each Punk has its own attributes and commands different prices, depending on the uniqueness of their features.

As of August 30 (6:05pm IST), Ether Price in India stood at Rs. 2.47 lakhs.

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