• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
CryptoPunks, the original tweet
Nexo

Crypto Reacts: The CryptoPunks V1 NFT Collection Turns Five Years Old

Eduardo Próspero by Eduardo Próspero
4 weeks ago
in Ethereum, NFT
0
Advertisement

The creators deployed the original CryptoPunks smart contract five years ago today. It’s a historic day for sure. Those pioneering NFT projects created a Billion-dollar industry. So, why is the crypto media so silent about the CryptoPunks NFT collection’s fifth anniversary? Because we’re talking about the legendary CryptoPunks V1. The creators, Larva Lab, celebrate the anniversary on June 22nd. The day when they deployed the V2 contract.

Which one is the real anniversary, though?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | CryptoPunks v1 Delisted By OpenSea As Legal Battle Heats Up

Without taking sides, Bitcoinist is going to check out the twitterati’s opinion and stories on the subject. Despite the media silence, over at Twitter people are celebrating the CryptoPunks’ fifth anniversary. It’s only fair to hear them out… but first…

What Are The CryptoPunks V1, Exactly?

In a recent post, our sister site NewsBTC explained the situation:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“Back in 2017, prehistory for the NFT market, LarvaLabs distributed 10.000 CryptoPunks V1. However, there was a fatal mistake in the governing smart contract. After a transaction, it allowed the buyer, not the seller, to withdraw the money. The buyer could literally have its cake and eat it too, leaving the seller completely in the red.”

The easiest way to fix the mistake was to abandon that contract and deploy a new and improved one, and that’s exactly what Larva Labs did. It seemed like an innocuous mistake, what could possibly go wrong? The V1 contract remained on the blockchain, collecting dust. Last year, on the CryptoPunks V2’s fourth anniversary blog post, Larva Labs reminisced: 

“Four years ago today we spent $8 in transaction fees to start a small, weird but cool experiment in digital ownership on the blockchain. And for the first three years of this experiment that’s what it was, really cool and interesting – but small. In the fourth year, a good portion of the world suddenly decided owning digital items on the blockchain sounded like a good idea.”

It happened gradually, then suddenly. “For the first three years the Cryptopunks did $866K of sales volume. In year 4, they did $361.7M,” Larva Labs explained. Now that the CryptoPunks are historical artifacts of the utmost importance, someone found the old V1 contract and figured out how to wrap them in a new smart contract that doesn’t have the know vulnerabilities of the original contract.

Related Reading | Going Once…Twice…Nowhere: Sotheby’s Halt CryptoPunks Auction After Owner Pulls Out

The rest is history. And here it is, the rest of the story.

ETHUSD price chart for 06/09/2022 - TradingView

ETH price chart on Coinbase | Source: ETH/USD on TradingView.com

Crypto Reacts: What Did Original Minters Say About The Anniversary?

  • First of all, there’s an official town-hall meeting about the CryptoPunks V1 anniversary over at Twitter Spaces today:

Today the official celebrations begin!

CryptoPunks 5th birthday 🎂https://t.co/WyhajHdC6C

— CryptoPunks V1 (@v1punks) June 9, 2022

  • Observe the date, here’s an image of Larva Lab’s original Twitter announcement of the project.

Happy 5yr birthday CryptoPunks! pic.twitter.com/GzUzUL5L03

— VonMises (@VonMises14) June 9, 2022

  • An original CryptoPunks minter reminisces, “Today is a very special day. Exactly 5 years ago, June 9th 2017, I sat down to claim 350 Cryptopunks. I was mesmerized by Larva Labs visionary ideas and their astonishing digital concept that opened new thought-worlds for me and our whole space. An experiment to change it all.”

After spending substantial amounts of time with blockchain matters since 2010 discovering the idea of non fungible tokenization was the biggest leap for me since BTC & ETH. I am incredibly proud how far we‘ve come. Happy Birthday to all CryptoPunks around the globe! 🌐🙏🏼🥇

— mb | mabu.eth 🖼 (@mb__nft) June 9, 2022

  • The self-proclaimed “#1 claimant of CryptoPunks in 2017” gives the collection its just dues. “Happy Birthday to CryptoPunks, the single most important and influential crypto art project. The project that defined what’s now known as ‘NFTs’. Without Punks our newly forming world would have never been the same.”

Punks have helped to change my life and the lives of countless others. Their impact so profound, the stories incredible. The Punks community are the who’s who of crypto. Web3 rockstars.

— hemba 🛸 Austin (Consensus) (@soldthebottom) June 9, 2022

  • Yet another original minter reflects, “It’s been 5 years since I started exploring NFTs thanks to CryptoPunks. Minting and experiencing this interaction with the chain was enlightening. Here is to another 5 years of having fun in this space. Happy birthday Punks.”

It's been 5 years since I started exploring NFTs thanks to CryptoPunks @v1punks @cryptopunksnfts . Minting and experiencing this interaction with the chain was enlightening. Here is to another 5 years of having fun in this space. Happy birthday Punks.

— Elypse.eth (@Elypse_Pink) June 9, 2022

  • This artist finally says what you’ve all been thinking, “Today marks 5 years since cryptopunks  came into existence. Can you imagine 5 years !!! Since this was dropped !!! And in a way is kinda paving every single person in this space”

Today marks 5 years since cryptopunks came into existence

Can you imagine 5 years !!! Since this was dropped !!! And in a way is kinda paving every single person in this space

— Rahim Mahtab (@Rahim_mahtab) June 9, 2022

  • And to top it all off, here’s a link to the original transaction.

Happy 5th Anniversary #CryptoPunks! 🥳🎉

Congratulations @larvalabs! 🍾

V1 contract deployed Jun-09-2017 12:22:50 AM +UTC – https://t.co/LQXtX9GHD0@yugalabs #historicnfts #nfts #ethereum pic.twitter.com/ATfZ2dbcP4

— mrfahrenheit.eth ©god.eth (@BokkyPooBah) June 8, 2022

Love it or hate it, this is NFT history right here. Happy fifth anniversary to the V1s.

Featured Image: The original announcement tweet. | Charts by TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

20 hours ago
Snoop Dogg NFT

Snoop Dogg Still Bullish On Ethereum Despite NFT Trades Declining 70%

3 days ago
Bored Ape Themed Restaurant Will No Longer Accept Crypto Payment

Bored Ape Themed Restaurant Will No Longer Accept Crypto Payment

7 days ago
Ethereum

Ethereum Energy Consumption Sees Sharp Decline As Mining Profitability Drops

7 days ago
Morgan Stanley: Ethereum 2.0 Launch May Reduce Demand For GPUs

Morgan Stanley: Ethereum 2.0 Launch May Reduce Demand For GPUs

7 days ago
Ethereum

The Metric That Says A Further 50% Drawdown For Ethereum Is Possible

7 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.