A lot of people still believe that CryptoPunks is nothing more than a general Internet fad, but the concept behind this project is actually much more important.
On the face of it, CryptoPunks is simply a series of 8-bit, digital characters that have no real use. People buy them and use them as profile pictures on platforms like Twitter, messaging apps and more. They can sell these on other platforms too, and their price keeps appreciating.
However, each CryptoPunk avatar is linked to the blockchain and it can be linked to web3 apps. Which is exactly how the realistic avatars Mark Zuckerberg’s Meta is imagining today will work in future.
And if you take all that into account, the fact that CryptoPunk 4156 was auctioned for $10.35 million doesn’t sound too far-fetched. The project could, in theory, evolve to become something much bigger in future.