NFTs are Non-fungible Tokens which means they cannot be traded and exchanged, unlike other cryptocurrencies, NFTs could be anything like images, songs, digital art, meme, post, painting, and many other pieces of art. All these types of NFTs are managed by blockchain technology which means no one can snatch, copy, or corrupt your digital assets due to their transparency, security, and immutability.
Today's article is based on one of the most well-known and expensive NFT CryptoPunks so let’s dive into the CryptoPunks!
What Is CryptoPunks
CryptoPunks is the type of NFT that was introduced in 2017 when the NFTs concept came into being. It is the most expensive NFT in the NFTs market and its current price is 64.69 ETH. It is developed by the Larva Labs and designed a code that has a caliper of generating many NFTs at a time, almost 10,000 distinct NFTs were generated by using this algorithm. Furthemore, these NFTs are directly stored on the blockchain hence other NFTs are not directly stored on the blockchain. Due to direct storage on the blockchain, it achieves security, transparency, and immutability.
Each Cryptopunk is unique but some of them are rare and costly, you can buy these types of NFTs from Larva Labs' official website and OpenSea.
How To Buy CryptoPunks
It is not difficult to buy Cryptopunks if you have enough funds then here the step-by-step guide to buy cryptoPunks:
Step 1: The very first step is to buy Ethereum (ETH), you must have Ether in your crypto wallet so after that you can buy Cryptopunks. If you don’t have Ether in your wallet then firstly you have to buy from any reliable exchange. After a successful purchasing transfer of the ether into the crypto wallet, Metamask is one of the most used to buy Cryptopunks.
Step 2: Connect the crypto wallet (Metamask) with openSea to buy the Cryptopunks Here is the step-by-step guide to connect the crypto wallet with OpenSea or you can buy CryptoPunks on Coinbase too.
Step 3: Search Twitter using handles (@thecryptopunksntfs, @thecryptopunks) to find the best CryptoPunk and bid for it.
CryptoPunks is the most popular, expensive, and historical NFT and these NFTs are directly stored on the Ethereum blockchain which makes it more secure and transparent. You can buy these NFTs by using Ether, to buy Cryptopunks you must have a huge amount of Ether in your crypto wallet and afterward, you can buy it.