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Logan Hitchcock takes a look at the history of CryptoPunks for the Week 3 Web3 DraftKings Reignmakers Football promo.
Read more about CryptoPunks on Lucky Trader: CryptoPunks
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CryptoPunks is a collection of 10,000 pixelated NFTs that was launched in June 2017.
The collection was initially free to claim for any user with an Ethereum wallet. As one of the first NFTs on the Ethereum blockchain, many NFT collectors assign a notable historical significance to the collection.
Join the CryptoPunk #6584 contest here!
Learn more about the project and its rise to success below.
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Now one of the most sought-after NFTs, CryptoPunks was not instantly a hit when released in 2017.
“When we first started this, we didn’t even know if anyone would care at all,” Larva Labs and CryptoPunks co-founder Matt Hall said. “At first, it felt like, ‘Oh my god, we have 10,000 of these things and people have taken 30? It’s going to be stupid, right?’ But then they all went.”
In the process of creating CryptoPunks, Hall and co-founder John Watkinson also inspired the ERC-721 standard. Though an afterthought for most non-technical NFT collectors, the ERC-721 standard is a foundational piece of nearly all notable NFT collections created today.
While CryptoPunks received some fanfare in 2017, another few years would go by before a broader population would learn about CryptoPunks. During that time, notable CryptoPunk sales went from thousands of dollars to millions, and the collector base expanded beyond technology and cryptocurrency enthusiasts to celebrities and collectors, like Jay-Z and Odell Beckham Jr.
As CryptoPunks gained mainstream attention in early 2021, Larva Labs also dropped a companion collection, Meebits. All CryptoPunk owners were eligible to claim one NFT for free, and another 10,000 Meebits NFTs were auctioned off to the public.
Punks and Meebits were both maintained by Larva Labs until March 2022 when Yuga Labs, the team behind Bored Ape Yacht Club, shockingly purchased the IP rights to the collections.
Under Yuga Labs’ direction, CryptoPunks remains one of the most desirable NFT collections for collectors.
At the time of writing, CryptoPunks’ floor is 63.95 ETH.
Check out the CryptoPunk listings page for more.
Interested in the other Week 3 Web3 contests? Here’s every contest being offered on DraftKings:
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
For each of the CORE, RARE, ELITE, and LEGENDARY Week 3 Web 3 contests, DraftKings intends to purchase three (3) NFTs from the NFT project of the top prize of the contest with the most lineup entries (the “Sweep the Floor Promotion”). DraftKings intends to purchase the NFTs within sixty (60) days of the Week 3 Web 3 contests ending. The determination of which NFTs to purchase will be in DraftKings’ sole discretion, and DraftKings reserves the right to purchase less than three (3) NFTs from an NFT project in the event the floor price exceeds the lower of double the floor price as of 9/19 or 3 ETH. DraftKings intends to use the purchased NFTs for prizing in future Reignmakers Football contests. DraftKings reserves the right, in its sole discretion, to use the NFTs for other purposes. The Week 3 Web 3 REIGNMAKER contests are not included in the Sweep the Floor promotion. For clarity, all contests are fully open to the public and are not gated based on ownership of non-DraftKings NFTs. The lineup requirements that are specific to Reignmakers Football contests apply.
See the terms and conditions for CryptoPunk here.
Join the DraftKings Discord here for updates on upcoming, live and past drops.
Connect with the Reignmakers Football conversation on Twitter.
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