What Are Cryptopunks? Here’s where you can buy them

Cryptopunks are part of the bitcoin and the blockchain revolution that is currently making raves across the world. Developed by Larva labs back in 2017, Cryptopunks has gone on to make a significant around the world in the way that we buy and sell collectibles, arts, and rare items online.

What are Cryptopunks?

Cryptopunks are 10,000 unique collectible characters that comes with proof of ownership from the owner. This Cryptopunks are stored on the Ethereum blockchain. Cryptopunks is the first NFT or non-fungible token which is an inspiration for the usual Ethereum ERC-721 standard which are used to power most of the digital collectibles and art.

Technically, these Cryptopunks are 10,000 (ten thousands) characters that have been generated uniquely. There are no single types that look exactly like each other, and any single one can be owned by just one person on the bitcoin Ethereum blockchain. Initially anyone with an Ethereum wallet can freely claim them. However, all 10,000 characters have been claimed quickly.

Now what this then means that someone now has to buy them through the marketplace which is also a parts of the Ethereum blockchain. Through this marketplace, anyone can buy, bid on, and offer their punks to be sold.

The history of Cryptopunks

Cryptopunks, a product of an in-depth research, got introduced by Larva Labs in mid-2017 as being among the initial non-fungible token (NFT) and is based on the Ethereum blockchain. This project was created by a two-man team called Larva Labs, a team of developers. This crypto punk blockchain project subsequently inspired the ERC-721 which then led to the NFTs, the punks, and the modern cryptocurrency.

Where can I buy Cryptopunks?

Due to the popularity of punks, there is a certain investor interest that has been generated by the information about this. This has led to different people asking where they can buy punks from. However, we have just one which seems to be the best platform to buy your punks. This is the best place to access this new market website where lots of items from artists art, punks, cryptocurrencies and things can be sold.

Buying cryptopunks on Opensea

While there are other platforms to buy punks such as Coinbase and all that, Opensea has proven to be the best platform in this regard. It is better than Coinbase. Opensea is the largest market place for crypto collectibles and art. Coinbase and other platforms are lesser than Opensea. With Opensea, you can easily buy, sell, tale ownership of and find unusual digital assets. Opensea is a live market place for all things that has to do with NFT or non-fungible tokens. With Opensea you are sure to find a seller at the value that you want for your item.

How to create an Opensea account

Creating an Opensea smart contract account is usually a breeze. However, you will want to make sure that you fist create a Metamask account. Basically, you need to download a chrome extension call metamask, it’s just an ethereum wallet that will be connected to opensea.

How to buy Cryptopunks

 Creating a Metamask page can be done through Google Chrome, fire fox, or Opera. All you need do is to simply search for the add-on extension, and download it. You will then be needed to input the seed phrase for your current Ethereum Wallet. Or you could just create a new one and write down the seed phrase. You can then go on to open your Opensea page. Once metamask wallet is setup, go back to opensea, and connect the wallet to opensea, and update some basically profile information, should be all set to use

Setting up your Opensea Wallet

Initially, before you start to buy and sell in the market, you will need a wallet to help store up your NFTs and punks. It is recommended that you make use of the Google Chrome during the installation of the MetaMask wallet extension. The moment that you have been able to install this Metamask, you can now go over to Opensea. Creating your own Opensea account is a very simple process. The moment that you have done this, you can then move over to Opensea, and click on the icon which you have at the corner in the right. Sign in and follow the instructions present in your wallet. People need wallets to trade on any rarity or punk on the platform.

Putting your collectibles together

If you now have punks for sale, you will now need to put your collectibles in order. Now, it is possible that your account page is empty. The go to “create” in the top of the page. You can then move on to “My Collections”. Then you can then go ahead to create a new collection. Choose a name for the collection, enter the description, and upload your message. At this point, you may want to skip the NFTs. You are just creating a collection that will be used to display your work in case you need to transfer ownership. This information can be edited later during the process.

How to sell on Opensea

If you finally have some punks that you need to sell in your wallet, you can now head on to Opensea. They can be sold for a certain sale price on this platform. You will need to list out these punks or NFTs. To do this go to your public asset page where your items are shown and click on Sell.

How to buy Cryptopunks

To do this, you are expected to go to your Opensea and go to your wallet which has the ERC721 tokens and when you get there. Click on “the my items” in the Opensea. Then you will then be able to select the item that you will like to sell and press the “Sell” button.

In this auction house, you will need to choose between the auction or fixed-price listing and set the value. You should select Post Your Listing and do as instructed in your wallet. There is also a transaction fee or a gas fee expected to be paid.

The moment that you have chosen the method that you want to sell your punks and setting the ETH price, you will need to click on the button that says “post your listing”. You will then be needed to make two transactions which only needs gas before your listings are finalized. This first transaction is needed to initialize your account which will be used to make sell orders and this needs to be done once for every account.

Then there is usually another transaction that is done to let OpenSea (smart contract) which is used to gain access to your crypto collectible that are meant for sale. The moment that you have made both transactions, you would then implement a final signature request and this to your punks getting listed for sale on the punk selling website. You could adjust the price for listing out your punk, if you think that the price is too high for the punk which can be changed prior to any transactions being made.

One thing you need to know is that people can bid on any more asset, so you do not need to list out that punk item to be sold or price your punk. Apart from this, depending on your chosen item, you could keep on using some punks in games as the auction is being done.

How to buy on Opensea

The moment that you are now in your cryptocurrency wallet, you can then go to the browse tab of this smart contract platform to select a category, or you could simply just view all. This place, you can crypto collectibles, punk, and other rare items. You could just make an offer or buy a particular item or punk.

There are certain crypto collectibles which are being sold by way of an auction house like this. If you become the bidder with the highest amount when the auction finally ends, then you will be told to make a payment and get your asset sent to you.

Then again, if within the last 10 minutes a higher bid was received, you get the auction extended by just 10 minutes. Therefore, if you really need a certain collectible or punk, you should not just place your bid and go to sleep. Soon after you choose a certain collectible, you get to click on the “place bid” tab. However, before you place your first offer, you are expected to convert your Ethereum token – ETH – to WETH. While this is being done, you will also need to grant Opensea an access to your W ETH if there is a sale. These sales only need gas and this will not be needed ever again.

Furthermore, you are also able to place an offer for crypto collectibles which are not even placed on sale. This is a very essential feature for users that are unable to set an ETH price for items or punks. Besides, using the same ETH, you get to make an offer for more than one single item. In Opensea for smart contract, there are lots of sales items that are being sold for particular ETH prices like the sales cards bearing the image of famous people. The image of the famous person is one of the attributes that accounts for the amount of the item.