When it comes to rarity, nothing beats Non-Fungible Tokens. Not even Gold. NFT creators make specific amounts of NFT collections, increasing their rarity. Because of this rarity, the price of select NFTs now ranges in high hundreds of thousands to millions of dollars. Lets look at the rarest Cryptopunks.
What are the Rarest NFTs in the Metaverse?
Among the rarest NFTs are EtherRocks and CryptoPunks. However, EtherRocks top the list since there are only 100 of them in existence. While this is the case, when it comes to price, CryptoPunks are the most expensive. This is mainly because CryptoPunks come in different types: the zombie, ape, male, alien, and female varieties. These subgroups further increase the rarity of the CryptoPunks. Ape punks are 24, zombie punks are 88, female punks are 3,840, and male punks are 6,039.
Which of the CryptoPunks is the Rarest?
The alien punks are the rarest. This is because there are only nine of them in the collection. Two of the alien punks are the highest selling in this collection. CryptoPunk #3100 is currently the most expensive CryptoPunks. Presently, it is worth $7.6 million. Punk #3100 sports a blue headband as its only accessory. This accessory is not unique because there are 405 other CryptoPunks which rock the same headband. The cheapest alien punk goes for 30,000 ETH or $96,870,000 (at current ETH prices), which also happens to be the most expensive.
Where Did CryptoPunks Come from?
CryptoPunks were created by Larva Lads, which consists of a partnership between two people: John Watkinson and Matt Hall. They made the punks and released them in 2017. NFTs were not as much-hyped back then as they are now, and the punks flew under the radar. Both Matt and John are Canadian software developers.
What are the Price Stats on CryptoPunks?
Presently, the lowest selling punk available on OpenSea goes for 77 ETH or $238,812.42. Over the past 12 months, CryptoPunks has seen 12,718 sales, which is a phenomenal rise in trading activity. This high number of sales represents a total value of 384,040 ETH or $914.13 million. Over the past 24 hours, CryptoPunks sales have risen to $15.4 million or 4,890 ETH.
What Factors Determine NFTs Price
Rarity is an inherent function of NFTs. Without this critical component, they lose their right to be as expensive as they are. Three factors contribute to the high price of NFTs. They are the age of the NFT project, the popularity of the developers, and the rarity of the NFTs. When these three aspects come into play, as seen in CryptoPunks NFT collection, the price ceiling is usually very high.
Conclusion
As of now, we don’t know where the NFT madness ends. Of the nine rarest alien punk, only three are available on the market for sale. This means that other owners find much value in holding the NFTs rather than selling them. There is no telling when we’ll see another crazy sale. However, if you happen to come by some $100 million, you now know where to spend it. Cheers!