One of the first NFT projects, CryptoPunk prices rose more than 50% in a week.

One of the first NFT projects, CryptoPunk has inspired many crypto artists and digital collectors. The CryptoPunk project started in 2017 as an experiment on NFTs and the value of art, now some of the CryptoPunks are selling for millions of dollars. Some of the CryptoPunks are among the most expensive NFTs and they became more popular in 2021. In the last week of July, CryptoPunks gained more than 50% on average.

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CryptoPunks are collectible crypto artworks and are represented by NFTs on the Ethereum blockchain. It consists of 10,000 small, 8-bit style "punks", each with unique characteristics. To those unfamiliar with crypto and NFTs, these small, square, pixelated smileys from the CryptoPunk collection may not seem very special. But the most expensive and most popular NFT collection. Looks can be deceiving when it comes to NFT.

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Currently the lowest Punk price is 34.25 ETH ($88,508.85). This Punk was purchased on March 11 for 18.49ETH ($33,519). It gained approximately 265% value in dollars in 5 months. It has increased by about 93% as ETH.

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The most expensive Punk is worth $7.57 million. Also, the most expensive Punk in Punk sales is CryptoPunk #7804 with sales of $7.57 million. In addition, the total value of all sales since 2017 is $670.05 million. When calculated overall, the average price of a CryptoPunk was 34 ETH ($87,800) last week, today it has surpassed 52 ETH ($135,000), gaining more than 50% in an average of one week.

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When we reviewed the most recently offered CryptoPunk 9581, it was sold on July 26 for 21.75 ETH ($51,591). The same Punk was sold for 29.99 ETH ($73,376) yesterday. Today, it was offered for 37.95 ETH ($98,070).

CryptoPunks is the most valuable NFT project with an average weekly volume of around $60 million. Each of the 10,000 punks in the CryptoPunks collection are unique NFTs on the Ethereum blockchain. 3,840 of the punks are female and 6,039 are male. There are also monkeys, aliens and zombies in the collection. Rare ones in the collection sell for millions of dollars. According to OpenSea's data, the number of sales, which was 21 last week, increased to 303 yesterday. Again, while the daily trading volume was $1.8 million last week, it increased to $41.5 million yesterday.

In the early days, Punks were distributed for free, at the time it was enough to pay the Ethereum transaction fee to own one of the Punks. Now some Punks are worth millions of dollars. The reason why it has gained so much value is that the interest in NFTs is increasing day by day. Also, CryptoPunk being the first NFT project and inspiring many similar projects makes it more valuable. With the support of many investors, NFT markets continue to grow and it is seen that it will grow even more in the future. In addition, investments in NFTs started to increase in the days when the crypto money markets started to trend upwards.

I think we will witness the incredible growth of NFT markets this year and next year.

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