What Is CryptoPunks?
CryptoPunks is a collection of 10,000 unique digital characters created by Larva Labs in 2017. Each character is an 8-bit image that has been generated using algorithms and stored on the Ethereum blockchain. The CryptoPunks are collectible assets that can be bought, sold, or traded with other users for cryptocurrency such as Ether (ETH). They have become popular among crypto enthusiasts due to their scarcity and uniqueness.
The CryptoPunks project was designed to explore the concept of non-fungible tokens (NFTs) which are digital assets that cannot be replicated or exchanged for another asset of equal value. This makes them ideal for use in gaming applications where players can own exclusive items or characters within a game world. Additionally, they provide an interesting way to invest in digital art since each Punk is one-of-a-kind and therefore valuable as a collector’s item.