Quick Summary
- Crypto Punks as one of the first ever NFTs changed the history of art without trying to be a work of art. The record sale for one CryptoPunk is $11.8 million while Punk’s lowest price is 59.95 ETH, or $148,223.
After the sender of 104 CryptoPunks opted to leave, admirers and hopeful bidders gathered at Sotheby’s auction house in New York on Wednesday for what turned out to be a non-event.
However, immediately following this statement, a live panel discussion on the history of non-fungible tokens (NFTs) and CryptoPunks was held. Sherone Rabinovitz, a technologist and CryptoPunk expert, and Kenny Schachter, an art critic and curator, were on the panel. The event was hosted by Colborn Bell, the Museum of Crypto Art founder.
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About Larva Labs, CryptoPunks, and Rabinovitz
When asked about Larva Labs and CryptoPunks’ early history, Rabinowitz, who produced a documentary about the team in 2018, began by hailing CryptoPunks as the first group “to get it right.” Larva Labs has worked magic on the digital property verification experiment, from aesthetics to market. CryptoPunks’ beauty extends “beyond pixels and cultural payload,” according to him, and the code is “beautiful enough” to be printed, framed, and placed on a wall.
Larva Labs introduced blockchain-based generative art on Ethereum in 2017, with an algorithm that randomly generated pixelated punk characters. Punks have now garnered widespread awareness and have become one of the world’s most valued NFTs. It is now the most traded collection on OpenSea in terms of volume.
Schachter’s discovery about NFTs and CryptoPunks
Schachter discovered NFTs and CryptoPunks much later in 2020, admitting he did not like them at first. He said: “I think one of the most important things in life is understanding and trying to understand why you don’t like what you don’t like.” He ultimately discovered CryptoPunks and fell in love with them.
He explained: “They have become a paradigm shift in cultural history, a sort of hybrid between fine art and collectibles. They changed the history of art without ever intending to become a work of art.”
Colborn then said that, despite the fact that Schachter does not own a Punk, he represents the spirit. Punks, according to Colborn, are people who are courageous, speak their minds, express their values, and believe that change is possible.
Conclusion
CryptoPunks was ranked #20 on TBEN’s Top 100 Crypto & Blockchain Influencers list for 2022. Sotheby’s broke the global record when it sold one CryptoPunk for $11.8 million last year. At press time, Punk’s lowest price is 59.95 ETH, or $148,223.
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sources: cryplogger, thebharatexpressnews
author: Rene Remsik, Hafiz Awaiw
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
