Talk about non-fungible tokens (NFTs) and the term ‘KryptoPunks“Will show up for sure. For those who aren’t up to date, this is a collection of 10,000 pixelated “punk” faces – each of them unique, each with one different characteristic – which have been making the rounds in art circles since last year.
Say hello to the CryptoPunks. Image: OpenSea.
But don’t let their looks fool you. According to data from the NFT marketplace OpenSea, the “cheapest” punk sells between 25 and 29 ETH or over $ 80,000 for some strange place to put your money.
However, the attraction doesn’t come from the punks themselves, but from the story behind them. CryptoPunks was one of the very first NFT projects be minted on the Ethereum blockchain (which itself started in 2015).
This means that CryptoPunk owners – if they pay a lot of money for a punk – Strictly speaking Betting on owning a piece of history on the Ethereum network. And while owning a piece of history isn’t that cheap anymore – the price tags from CryptoPunks have priced out discouraging many potential punk fanatics from buying whole punks outright – one marketplace hopes to solve the problem.
Win CryptoPunk # 543
Otis, a self-proclaimed cultural exchange, enables users to buy and sell shares in cultural goods such as sports cards, video games, memorabilia and, more recently, NFTs
It now offers fractional investment opportunities in NFTs. According to a release shared with CryptoSlate, Otis allows multiple investors to participate in a single asset, and CryptoPunk is going under the hammer for such an agreement.
The company enables investors to fractionally purchase CryptoPunk # 543, one of the first 1,000 NFTs ever minted, for as little as $ 1. # 543 is particularly rare as it has three attributes: It shows a mustache that only 288 / 10,000 punks have.
CryptoPunk # 543 is owned by Otis. Image: OpenSea.
The ‘shares’ of # 543 pictured above were previously offered to investors for a total value of $ 51,000 and sold out in less than 3 minutes. The stocks themselves will open for trading later this month, allowing current investors to sell stocks and new investors to jump into the NFT frenzy.
(Editor’s note: All of the CryptoPunks shown in this article are the property of their respective owners and are publicly available for viewing in OpenSea’s CryptoPunks collection.)
Get one Edge in the crypto asset market
Access as a paid member of. for more crypto insights and context in each article CryptoSlate Edge.
Sign up now for $ 19 / month. Discover all the advantages