CryptoPunks have been back in the news of late. Seedphrase, a DJ who owns the rarest CryptoPunks NFT out there (CryptoPunk #8348), announced this month that he had signed to talent agency WME for a new record release. And in June, Yuga Labs—which acquired CryptoPunks in May 2022—announced that it intended to release a book on the popular NFTs. So what, exactly, is this oddly-named commodity with its pixellated avatars?

The market for crypto collectibles released as non-fungible tokens (NFTs) exploded in 2021, with $2.5 billion in transaction volume in the first six months as NFTs entered the mainstream.

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Author: Andrew Hayward

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