What is CryptoPunks NFT?

CryptoPunks, an iconic non-fungible token (NFT) collection existing on the Ethereum blockchain, emerged in June 2017 through the creative endeavors of Larva Labs, a duo comprising Canadian software developers Matt Hall and John Watkinson. Drawing inspiration from London punk scenes, the cyberpunk movement, and electronic music duo Daft Punk, this experimental project not only paved the way for the ERC-721 standard for NFTs but also played a pivotal role in shaping the modern crypto art movement.

Widely acknowledged as a catalyst for the 2021 NFT boom, CryptoPunks shares the spotlight with early projects like CryptoKitties, Bored Ape Yacht Club, and Beeple's groundbreaking artwork, "Everydays: The First 5000 Days." The collection is comprised of 10,000 distinct CryptoPunk tokens. Notably, on March 2, 2022, an anonymous user generously contributed CryptoPunk #5364 to Ukraine's government Ethereum wallet, aiming to support the country amidst the Russian invasion.

In a significant development on March 11, 2022, Yuga Labs, the parent company behind the Bored Ape Yacht Club, acquired the entire intellectual property of CryptoPunks in an undisclosed deal. Yuga Labs promptly granted full commercial rights to CryptoPunks owners. The transition was finalized on May 7, 2022, as the entire CryptoPunks marketplace found its new home on the Yuga Labs-owned website.

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