Nft space punks12/9/2022 ![]() ![]() He compared the production of PFPs to the way television networks grow a community of fans for their series, saying, “It’s similar to how people get attached to characters in TV shows or cartoons. In combining the thrill of gambling on stocks with the pleasures of creating a digital persona, PFP NFTs could reshape how works made in the medium are bought and made.įranky Aguilar, the creator of the massively popular “Sup Ducks” series, said that because of the way PFP projects are generated, they spark a loyal base of buyers. PFP NFTs also behave more like traditional collectibles. In that way, they can be considered part of a larger series, unlike most NFTs, which exist as one-off digital artworks. PFP initiatives tend to involve the drop of thousands of NFTs at once, all algorithmically put together using a fixed set of data. PFP projects differ from most NFTs in a few key respects. Christie’s has already put together an online-only sale exclusively focusing on PFP NFTs. But by the second quarter of 2021, PFP projects would be key in keeping the NFT market afloat, with popular projects like Bored Ape Yacht Club (BAYC), Meebits (another Larva Labs project), Pudgy Penguins, and others initiating manic buying cycles with each drop. In the first half of this year, the Punks stood out as the only PFP project available on the secondary market during a short-lived period when buyers were more focused on digital artworks and sports collectibles. In the Midst of Crypto Winter, Pace Hits a Home Run with Random Internationalīloomberg's Massive Crypto Article Derides NFTs as Nothing More Than a Ponzi Scheme In June, Sotheby’s sold CryptoPunk #7523, an alien type sporting a mask, beanie, and earring, for more than $11.7 million to a buyer who goes by the name Sillytuna. In May, Christie’s sold a bundle of nine Punks for just under $17 million. Blue-chip auction houses quickly took note. In March, CryptoPunk #7804, one of nine “alien” types, sold for $7.57 million. ![]() During the NFT boom of early 2021, the Punks quickly increased in value. When Hall and Watkinson first created “CryptoPunks,” their gave their NFTs away for free-anyone with an Ethereum wallet could claim one. Their 10,000 algorithmically generated portraits of punks come in the super small size of 24 by 24 pixels, with ultra-rare alien and zombie types popping up a handful of times. Among the first in the subgenre were the “ CryptoPunks,” which were created by Larva Lab founders Matt Hall and John Watkinson starting in 2017. NFT SPACE PUNKS SERIESSome of the first NFTs ever made were a series of PFPs, or profile pics designed to be used as avatars for social media accounts. ![]()
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