Can Cryptopunks Be Considered as the Holy Grail of NFTs?

Cryptopunks are considered to be among the most expensive NFTs in the world due to their scarcity and limited quality, and also they are among the first collections on the Ethereum blockchain. Since the creation of the cryptopunks, investors or NFT collectors have been on the market trying to acquire the NFTs because of their expensive nature and the profit they could bring when sold.

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The majority of the cryptopunks sold on the NFT marketplace have not been sold over millions, only a few have been sold for millions of dollars like CryptoPunk #3100 which was sold at $7.6 million, CryptoPunk #5577 sold at $7.7 million, CryptoPunk #4156 sold at $10.26 million, Alien Cryptopunk #7523 sold at $11.75 million, TPunk #3442 sold at $10.5 million and CryptoPunk #5822 sold at $23.7 million.

Early this month we saw one again being purchased for $2.6 million and now another one has been purchased for $3.1million. The announcement of the Cryptopunk being purchased was made on Twitter by Nick Tomaino and he gave some reasons as to why it was purchased for the amount.

He said: All coins and NFT collections are their own digital nation-states. Most of them are all about the money when beliefs are strong and stand for something truly unique & more than money, the community is likely to grow. That is the case for Punks just like BTC & ETH
Punks community members believe in authenticity, creative empowerment and the 8-bit pixel artwork
Punks holders generally aren’t loud - they’re just true believers This is also a good indication of long-term growth. The overly aggressive marketers always fizzle but the true believers remain during booms and busts

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One would wonder why Cryptopunks can be so expensive to be sold for thousands and millions of dollars when they are not even among the most beautiful NFTs in the market but they have the advantage over others because they were first NFTs to be created. However, cryptopunks is not the most expensive NFT to be sold we have The Merge which was sold for $91.8 million.

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